Boris and Kathy Forex Weekly – 16-10-2017 – Crosses
October 15, 2017 10:34 pm
After rising for 4 weeks straight, U.S. dollar bulls have lost control. The greenback sold off against all of the major currencies, losing nearly 2% of its value versus sterling and falling more than 1% against the euro, Australian and New Zealand dollars. For many currencies, this week is significant because it is the first positive one since early September. As we now head into the third week of October, forex traders are wondering if the dollar will resume the downtrend that characterized its move for most of the year and we think it will.
After rising for 4 weeks straight, U.S. dollar bulls have lost control. The greenback sold off against all of the major currencies, losing nearly 2% of its value versus sterling and falling more than 1% against the euro, Australian and New Zealand dollars. For many currencies, this week is significant because it is the first positive one since early September. As we now head into the third week of October, forex traders are wondering if the dollar will resume the downtrend that characterized its move for most of the year and we think it will.
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