During that time, the common belief among many investors was that this intervention had killed the U.S. dollar, so one should be buying precious metals to protect themselves from the dollar's collapse.
(Adds table, details) May 29 Speculators boosted bullish bets on the U.S. dollar after scaling them back for eight consecutive weeks, according to Reuters calculations and data from the Commodity Futures Trading Commission released on Friday.
The USDollar has opened aggressively higher, despite a worse than expected Initial Jobless Claims release this morning. Price is currently trading over today's R4 resistance pivot, found at a price of 12,000.
Analysts say that despite the sideways movement of the past few days, the U.S. dollar is returning to its longer-term strengthening trend against the Singapore dollar as investors look ahead to a likely interest-rate rise by the U.S.
Trading in the commodity complex was largely driven by the move in the U.S. dollar. In the beginning of the week, the U.S. dollar moved higher on the durable goods report released Tuesday suggesting business investment is slowly starting to pick up ...