"Selling dollars isn't as easy now as it was in June because of positioning," said Stephen Gallo, head of European FX strategy with Bank of Montreal in London. "The market is short dollars versus G10 (currencies), probably now short versus emerging markets and, I think, short versus China . So if you sold the dollar at the start of June, why wouldn't you take some money off the table now? "The dollar could be making a permanent comeback," said City Index's Kathleen Brooks in a morning note. "From a technical perspective EUR/USD looks strong, however (the rise yesterday) highlights the impact that central bank speak is likely to have on the euro as we lead up to the all-important Jackson Hole conference on 24-26th August."

Source: Economic Times August 15, 2017 08:37 UTC