This Week’s Forex Price Action Indicates Dollar is ready to Rally

The strong recovery in the U.S. Dollar late in the week and the inability to break it sharply lower could be a sign that a short-covering rally is imminent. Rumors the Fed may begin to raise interest rates earlier than expected, a poor U.K. economy and fear of intervention all helped boost the Dollar on Friday.

The uptrend continued on the daily USD JPY chart as rumors swirled that...