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Feb 20th, 2018: Dollar Extends Rebound from 3-Year Low

Morning Report: 07.00 London

This morning, the US dollar has continued to rebound, with the US dollar index rallying for the third straight session. The bulk of this move started on Friday, but dollar pairs are still struggling in the face of it.

The EUR/USD is firmly lower, as is the GBP/USD. The AUD/USD is performing well by contrast, up around 0.2%, while the NZD/USD is unchanged. This comes after the release of the RBA monetary policy meeting minutes in the early hours of this morning.

The USD/CHF is trading higher along with the USD/CAD in a mirror move of the other dollar pairs.

The yen pairs are mixed, with the USD/JPY higher thanks to the lower yen and stronger dollar. The AUD/JPY is trading higher as the top performing pair, but the EUR/JPY and GBP/JPY are lagging.

Gold is slipping off the highs in the face of a resurgent dollar.

Coming up today

Today we have German ZEW economic sentiment at 10.00.

Trade Idea

The AUD/USD has performed well in the short and medium term and there could be more upside from here if the dollar recovery falters.

Feb 20th, 2018: Dollar Extends Rebound from 3-Year Low

A good way to play this is a HIGHER trade predicting that the AUD/USD will close above 0.7950 in 14 days for a potential return of 150%.

Feb 20th, 2018: Dollar Extends Rebound from 3-Year Low