With market positioning wildly short and technicals look a touch oversold, the US dollar is looking ripe for a bounce, Kyle Rodda, market analyst for IG Australia, tweeted. Rodda, however, isn’t sure whether the greenback would see an immediate bounce and how long it will last. “Perhaps it’ll come from a bit of January repositioning,” Rodda said. The dollar index, which tracks the value of the greenback, is currently seen at 89.93, having hit a 32-month low of 89.73 on Thursday. The currency has declined by 6.8% this year and is widely expected to fall by at least 5% in 2021. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BOJ to begin scrutiny of weak inflation – Nikkei FX Street 2 years With market positioning wildly short and technicals look a touch oversold, the US dollar is looking ripe for a bounce, Kyle Rodda, market analyst for IG Australia, tweeted. Rodda, however, isn't sure whether the greenback would see an immediate bounce and how long it will last. "Perhaps it'll come from a bit of January repositioning," Rodda said. The dollar index, which tracks the value of the greenback, is currently seen at 89.93, having hit a 32-month low of 89.73 on Thursday. The currency has declined by 6.8% this year and is widely expected to fall by at least 5% in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
