The Greenback at a crossroads
The Greenback has reached a crossroads – if it can breach 1.1670 support in EUR/USD and 94.30 resistance in the USD index then we could well see another leg of strength into the year end. Donald Trump has the potential to derail such a rally with escalation of NK tensions, dropping the Iran Nuclear deal and fighting with the Republican Party effectively torpedoing his tax plans. However, should a semblance of sense take hold, Rex Tillerson remain employed and military action avoided it would not be surprising to see a further broad based rally of 5% or so for the USD.
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