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US Dollar Index 18 Feb 2010

US Dollar Index 18 Feb 2010

The dollar index rebounded sharply yesterday breaking back above the psychological 80 level and holding firm above all of our short term moving averages but still sitting tantalisingly below the 81.50 price handle.  In this morning early US trading the index has kept to a very tight range, but given yesterday’s bullish engulfing signal and sentiment looking increasingly positive for the US dollar, we can expect to see a break and hold above this price in due course as the US dollar strengthens further.

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