Markets
Dollar index hits 7-week high, rises above resistance
TOKYO : The dollar hit a seven-week high against a basket of currencies on Monday, taking out chart resistance and se
TOKYO: The dollar hit a seven-week high against a basket of currencies on Monday, taking out chart resistance and setting itself up for further gains.
The dollar index rose to as high as 76.030, poking above resistance near 76.00, roughly the 38.2 percent retracement of the dollar's January to May slide, and where the dollar index peaked last week before turning lower.
The next retracement level lies near 77.00, the 50 percent retracement of the same dollar drop.
Copyright Reuters, 2011
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