Monday, April 16, 2007

Dollar downtrend

Barry at The Big Picture notes that the US dollar index has broken down through its most recent level of support.

Most recent support line was drawn in at around the 82.25 level. That support has now been violated, at least on the daily chart, as the $USD closed today at 82.174.

The downtrend continues...

Update: The British pound has traded over the $2 mark for the first time since 1992. More on that from Bloomberg.