Week Ahead: Does The Dollar's Upside Correction Have More Room To Run?

2026-02-07 23:30:00 ET

The US dollar rose against the G10 currencies last week, except for the Australian and New Zealand dollars. Without much in the way of new supportive developments, we frame its gains primarily in technical terms after the dramatic sell-off that appears to have been spurred by the bellicose nature of the US attitude toward Greenland. The nomination of Warsh to succeed Powell as Fed Chair seemed to have sparked a correction in several markets. Meanwhile, after a couple of soft labor market indicators, the market feels more confident of at least two Fed cuts this year. The dollar traded mostly lower ahead of the weekend, but the momentum indicators suggest the upside correction may not be over....

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