Buying the Dollar
The dollar index is holding in a four-day sideways channel, at a price point that has been pivotal during most of the 2011 trade. It has been noted, and is well worth repeating, that as equity markets hit yearly highs, and at the same time the Treasury notes hit yearly lows while interest rates continue to move higher, the dollar index has not capitulated, and is still 10% off the equivalent lows when compared to correlated global markets.
The signal coming from dollar index trade confirms that whenever global equity markets fail to hold support, which history tells us they will, the dollar will
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