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The cleanest shirt among the dirty laundry. That continues to best describe the dollar as it is ripping across the board once again in trading this week, and today is no different. The greenback is sitting firmer across the board and is pushing certain boundaries as noted earlier:
With risk sentiment staying more sluggish and dollar sentiment staying more bullish, it is hard to fight the current momentum. EUR/USD continues to flirt with the 0.9900 handle and the general feeling is that it may be a matter of time before we see an extended drop lower.
The ECB will be the key risk event this week but do watch out for Fed speakers before the FOMC blackout period begins, and that will certainly be interesting with US CPI data next week coinciding with that. So, if the Fed does want to communicate any firm messages before their next meeting, the next few days will be crucial.