Weekly Forex Market Commentary

The US currency exploded higher last week and this confirms it put in a significant bottom.

The US currency exploded higher last week and this confirms it put in a significant bottom. The US economy is in recession and the housing sector is in disarray, but the rest of the world is only starting to get the contagion and it will be ugly. Commodities have started to be liquidated and I believe there are more positions to be closed.? The dollar has much more to go and I suspect any weakness would provide opportunities to buy it on the cheap.

GFT