The US Dollar index, an average of the greenback's value against six top global currencies, has rallied sharply at the open of the trading week and is poised to break resistance at 88.20 to trade at levels unseen since April 2006. In keeping with recent market trends, the Dollar is being boosted as a safe-haven asset: stock markets are trading sharply lower across Asian exchanges, with the MSCI Asia Pacific Stock Index down as much as -2.3% and US equity index futures over down over 1%. A daily close above resistance is likely to open the door to an acceleration of the Dollar rally across the major currency pairs.
Created Using FX Trek IntelliChart - Prepared by Ilya Spivak
