Dollar staged a strong rebound overnight and has indeed broke recent high against Sterling. Momentum in the greenback carries on in Asia today as stocks are mixed on concern of bankruptcy of Japan Airlines.
Dollar index is back above 78 level after plunging to as low as 77.33. While crude oil remains steady at around 79 level, gold weakens noticeably together with the rebound in dollar and drops back to below 1100 level.
Current development argues that dollar's retreat might have completed yesterday already and some more strength could be seen towards the end of the year.
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