The dollar index enjoyed strong gains last week and despite a reversal this morning remains at the highs.
Dollar pairs are rising this morning, but the damage was done on Friday with hefty losses across the board for dollar pairs. The biggest reversals were seen on the AUD/USD and EUR/USD, while the EUR/GBP held up relatively.
The USD/CHF reversed its losses sharply on Friday, while the USD/CAD continues to climb.
The yen remains the power currency as stock markets reverse and traders seek out safe harbours. The USD/JPY has gapped down, but the AUD/JPY is struggling to recover from its gap lower.
Today is a public holiday in most nations.
The USD/CAD’s uptrend is hard to ignore, making a HIGHER trade attractive.