US Dollar Finds Support, Putting Pressure on Metal Prices

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As we pointed out last month, the US dollar is showing some weakness for the first time in almost a year. That dollar weakness has helped metal prices during the second quarter. However, the recent price movements aren’t reason enough to suddenly become bearish in the dollar.

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The dollar increased in value very quickly in 2014, so it’s not weird to see the dollar taking a breath before it continues on its way up. Technically, this is called a “correction within an uptrend.”The question now is whether the dollar has weakened enough already or if it’s due for further declines.

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