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A Week Of Dollar Weakness: The Greenback Falters, Then Friday It Explodes

The dollar was starting to look like it was running into a bit of trouble last week. After trading up to 95.85 on January 26, which was the highest level since September 2003, the measure of the dollar against major currencies began to slip. On Tuesday, February 3, the dollar traded down to 93.385 on the March dollar index futures contract. While not an earth shattering move, the dollar displayed weakness, which is rare lately. Since May 2014, the dollar has been on a massive bull run that took it from under 79 to its current level. Currency shifts tend to play out slowly; central bankers seek to smooth currency adjustments so as not to upset the balance of trade between countries. The move in the dollar has been quite staggering, but it has not come with the huge volatility that would upset central bankers, at least not yet.

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