A spat of weakness has spilled over to the US dollar. The declines comes after a series of large commodity price gains.
Cable is one of the currencies taking advantage and is now at the high of the day at 1.5243.
Medium-sized offers are at 1.5250 with more at 1.5265. Technical resistance is at Friday’s high of 1.5282.
It’s difficult to put together a cohesive picture of intermarket moves today as correlations detach. Often a breakdown in correlations is an early sign of a change in trend. The question is: which trend?
