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.
Dollar strength was absent on the day as traders sided with the growing bias that further rate hike considerations will likely be halted in the world’s largest economy.
Losing earlier in the morning on a handful of tepid economic reports, the US currency fought back, in some degree, to capture lost ground in the afternoon.
Disappointments in US data could very well mark a turning point for the US dollar. Over the past three trading days, the US dollar has remained firm and quietly scored some more gains after the surprisingly strong retail sales number on Friday.
Thin market conditions have made trading extremely volatile in the currency market. The US dollar ripped higher at the London open and continued to gain strength until the London close.
Summertime is the season for long vacations and we are finally feeling it in the currency market. With the big event of the year, namely the end of the Federal Reserve’s two year long tightening cycle behind us, traders can finally breathe a sigh of relief.
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