US Dollar Outlook: AUD/USD Whipsaws on Revived Reflation Trade

The US Dollar whipsawed lower on Monday as early upside fizzled out for the second consecutive trading session. An influx of US Dollar strength was seen at the APAC and European opens, but bears look to be fading the recent rebound. The broader DXY Index pivoted back below the 91.00-price level after erasing its 0.25% intraday gain and then some. AUD/USD price action gained 26-pips while USD/CAD slid 16-pips. This rally across commodity currencies highlights a fresh breath of life to the reflation trade theme, which is could present considerable headwinds to the safe-haven US Dollar. DXY – US DOLLAR INDEX PRICE … (full story)

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