With US markets continuing to outperform the rest of the world, Michael Hewson looks at whether the rampant dollar rally is starting to show signs of weakness.
- The DAX is still seeing weakness and needs to break above the 200DMA which is capping gains
- With expected downgrades for growth and inflation from the BoE Inflation Report, sterling remains in a descending wedge
- AUD/USD is looking oversold and has struggled to break below $0.85 and Chinese data may hold the key to a rebound towards $0.88
- The possibility of a pullback in USD/CHF towards $0.95 level remains whilst the pair is below the recent highs
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Video content by Michael Hewson of CMC Markets.