Dollar starting to look overbought, says TD Securities

As traders finish short covering, there is little to support the market building new longs

stretched dollar.jpg
Under pressure: the DXY would begin to look stretched around 95, TD Securities says

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The dollar’s recent upsurge is looking increasingly stretched and it is starting to seem overbought in the short-term against a range of major currencies, say strategists from TD Securities, which topped FX Week’s three-month currency forecast tables.

“At its heart, we continue to think the latest push higher in the dollar represents a large-scale position readjustment,” says Ned Rumpeltin, head of European currency strategy at TD Securities.

He notes the recent

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