The trend to sell the dollar stopped last week and on Friday we saw the first signs of USD demand in two markets where recently it was particularly weak; GBP/USD and gold. Daily Shooting Star candles in both, against 2012 highs, imply profit taking. This is not enough to turn the greater dollar downtrend but it does suggest we may see a further clearout this week as short USD positions are pared back.
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Barclays Capital