The U.S. dollar looks rather fatigued and we think it may be set for a correction of some sort in the coming days. After a three-month rally, the dollar Index is flat so far in July and with just one more day of the month left, we can’t see it staging a late rally now. Undoubtedly, the dollar’s hesitation this month is largely due to profit-taking after it rose sharply in the previous months on the back of stronger macro data, which cemented expectations that there will at least be two more rate hikes from the Federal Reserve before the year is out.
From:: Resource Investor