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Dollar index (USDX) drops below 103.00 as US stocks reopen
The dollar is under further selling pressure now, as the US stock markets reopen. The EUR/USD has forced a break above 1.0965 and that has now extended to a high at 1.0983. The GBP/USD has set a new rebound high above 1.2660 and Gold has risen further since my last update. The metal has just now touched $2,028. The further dollar weakness has come as the US stock markets reopen in a rather mixed way, but as yet there is no standout move to report in very early trading. The fresh bout of dollar weakness comes as the markets await those US economic releases at 3pm GMT. They will need to be good to reverse all this by the looks of things right now and the upshot of the gains in the Euro and the pound has forced a move to below 103 in the dollar index for the first time, since it peaked at 107.21 some weeks back
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