The US Dollar is trading mixed wherein it continued depreciating against the Euro and the Swiss France, where as it appreciated against the British Pound after depreciating for couple of days and continued depreciating against the Japanese Yen. The Dollar Index after again finding support at 79.00 ranges is currently trading flat at 79.28; next leg of weakness in the USD is expected only on the DX closing below 78.80 on daily basis.
The benchmark equity index (.DJIA) after closing above the historic congestion of 13400-13500 gained consistently to currently trade at 13988 ranges with 14000 mark acting as psychological barrier and 14200 ranges being historic high.
Historic correlation between DX Vs DJIA suggests the long-term trend is still dollar bearish till the Dollar Index is not closing above 84.50 on monthly basis.
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