As for the US dollar, statistics show that June is a daunting month for the greenback. Over the past 10 years, the Bloomberg Dollar Spot Index has been down 8 times with an average change of -0.1%.
The current location of the Dollar index also signals problems this month as the U.S. Federal Reserve has sent a “very strong signal” that it’s ready to cut the rates.
However, there is a light at the end of the tunnel, as a quick technical view shows that the index is at levels of diagonal support, remaining above 200 daily moving average.
Chart: Used with permission from Bloomberg Finance L.P.
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