The dollar has been trading perkily during a quiet, London-less European AM session, posting fresh intraday highs versus the euro and some other currencies, including the Australian and Canadian dollars, though has remained below the highs that were seen on Friday. EUR-USD has seen a low at 1.1921, which is just 11 pips short of Friday’s four-month nadir, while the narrow trade-weighted USD index (DXY) is showing a 0.3% gain on the day, presently at the day’s high at 92.80, 10 pips off Friday’s trend peak. We remain bullish of the dollar despite Friday’s underwhelming U.S.
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