Currency markets are sluggish, despite another rise in stocks yesterday, but we can see some volatility today with the upcoming UK and EU PMI data, and then also the US PMI. From a US perspective Elliott Wave, yesterday we saw a good recovery in the USD index, ideally for a final leg up within wave C of a corrective advance, so resistance may not be far away. Ideally, rising stocks will force the dollar lower along with US yields. In such a case, even weak commodity currencies will wake up.
grega
