Is the dollar bouncing back?

- By FX Markets Staff
- @FXMarkets_
- 23 Jun 2003

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In recent trading the US dollar has bounced back against a wide range of currencies. The DXY index stopped short of hitting the 1998 lows and now appears to have stabilised. The dollar has pushed back euro, sterling and the Swiss franc from their recent peaks, and many chart patterns are showing some early signs of a possible reversal in the dollar’s decline. At a time when the Fed is going to cut interest rates again, possibly by as much as 50 basis points to just 0.75%, does it make sense that

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