US Dollar Gaps Lower on Middle East De-escalation
The US dollar opened the week with a downside gap as easing Middle East tensions surprised speculators holding near-record long positions.
The dollar faced selling pressure at the start of the week, opening with a downward gap. The move followed signs of de-escalation in the Middle East conflict.
Speculators had built up net long positions in the USD index to their highest levels in some time, and the reduced geopolitical risk caught them off guard. The shift in sentiment undercut safe-haven demand for the greenback.
Source: FXStreet Forex News