The U.S. Dollar Has Made A Run Towards Support Levels

Finally, after 2 weeks of quiet, range-bound trading, the U.S. Dollar has made a run towards support levels against the Euro and Yen, thanks to lower Crude prices, and some decent domestic economic data. A record high trade surplus with China further added pressure on the Fed to back a policy for a stronger U.S. Dollar against the yuan despite the end of the peg back in July 2005. The move to base the exchange rate of yuan on a group of world currencies and allow it to fluctuate ever so slightly on a daily basis has disappointed U.S. officials, since it's only risen 2% against the Dollar in that time. Read More....