Weekly Forex Analysis
AUD/USD struggles above 0.7100 despite upbeat China Caixin Manufacturing PMI The U.S. Dollar Index that tracks the greenback against a basket of other currencies gained 0.11% to 93.535 by 9:47 AM ET (2:47 GMT). the greenback hit a speed bump as there were some technical signs of being over-bought in the near-term and with speculators’ long position hitting a record level. “But the dollar’s decline is likely to continue. Real U.S. interest rates are declining even as the country is running a big current account deficit, a situation we hadn’t have for a long time. Dollar on defensive as U.S. recovery story in doubt By Hideyuki Sano TOKYO (Reuters) - The U.S. dollar ticked up in early Monday trade, clinging to its rebound late last week, but mounting concerns about a slowing U.S. economic recovery from coronavirus epidemic kept a lid on gains. The dollar rose 0.3% to 106.20 yen , having gained almost 1% on Friday thanks in part to month-end buying following its dive into
