Intraday Market Thoughts

Archived IMT (2009.07.03)

by Ashraf Laidi
Jul 3, 2009 15:40

While the dollar is expected to accumulate further gains in Q3, these are likely to be sporadic and choppy at best. Such gains are seen more of a reflexive bouts emerging from extended pullbacks in global bourses, rather than a proactive strategies to build long term USD positions. $1.3750 vs EUR, $1.62 vs GBP remain key resistance levels for the US currency to breach. Meanwhile USDJPY upside faces more substantial pressure at 97.50-98.


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