Dollar Congestion a Temporary State: Looking for the Key to a Break

It can be argued that the FX and capital markets had carved out relatively consistent ranges this past week. Though it may seem odd to label markets that were generating such incredible levels of volatility congestive; we found absolutely no direction beyond Monday’s gap. And, heading into the final trading day of the period; the market seemed to finally catch its breath and backed off the intraday swings as well.

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