Dollar Up Sharply on Koreas; European Financial Mess
November 23rd, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
Intraday, the dollar has broken up and out of its most recent daily interval range, the top of which was 79.461. The first meaningful resistance on this dollar rally is 80.085 (the pivot low from 6 August 2010). If it clears that, the next upside target is around 83.55.
The U.S. Dollar Index is currently at 79.6.
Via: Reuters:
U.S. crude oil futures prices fell on Tuesday as the dollar strengthened and investors looked to less-risky assets after an exchange of artillery fire on the Korean peninsula.
Worries that Ireland’s debt crisis might spread to other euro zone countries also helped strengthen the dollar.
