The US dollar’s long-term weakness looks set to persist as the currency seems to fall to a fresh historical low against the euro on a weekly basis. The latest G7 meeting, held over the weekend of October 20-21, did nothing to provide any support. In the immediate aftermath of the meeting, the dollar fell to 1.4349 against the euro before bouncing. The reasons for the recovery, at this stage, are not clear.
However, with the dollar fast approaching its all-time synthetic low of around 1.4550, it might well start to attract speculative buying. Another likely reason is that it has got crossed-up and might...
