Kathy Lien is Director of Currency Research at GFT, and runs KathyLien.com.
Kathy has a Bachelors degree in Finance from New York University. Kathy has written for Stocks and Commodities, CBS Market Watch, ActiveTrader, Futures and SFO Magazine. She is frequently quoted on Bloomberg and Reuters and has taught seminars across the country. She has also hosted trader chats on EliteTrader, eSignal, and FXStreet, sharing her expertise in both technical and fundamental analysis.
Although Kathy Lien thinks that the dollar will continue to fall over the next few months, there is a good chance that it could rally this coming week.
Despite a stronger-than-expected service sector ISM report, the US dollar fell to an all-time low against the Euro while the Euro climbed to an all-time high against the British pound.
There are six central banks announcing interest rate decisions this week. In the currency market, it is not about what you have done but what you plan on doing in the future that matters.
The US dollar has fallen to a new record low against the Euro and a 3-year low against the Japanese yen today. However, the EUR/USD’s intraday correction has many traders wondering whether they should stay short US dollars.
On a trade-weighted basis, the dollar closed the week at a fresh record low. However, against some of the currency’s more aggressive counterparts, the pang of doubt in risk trends helped to keep the greenback from much worse.
The dollar can’t seem to catch a break. The beleaguered currency marked yet another momentous drop against most of its liquid counterparts, chalking up its biggest three day sell-off in four years.
Although US consumer confidence dropped to a 5-year low, that was not the primary catalyst for the dollar’s slide. Instead, the downward spiral was triggered by the combination of things.
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