US Dollar Tests $1.40 support level

The dollar continues to show strength in the currency exchange markets, due primarily to the continued reduction in the price of oil futures.  This week the dollar briefly broke through the $1.40/euro support level, reaching a low in the $1.385 range, before rising today to above the $1.41 level.

All of this is good news to US travelers planning their travels to Europe.  We have not seen these rates of exchange in over a year, and I think that more good news is coming, even though some currency specialists consider the US dollar overbought at the present.  Everything hinges on what oil prices do in the near future.

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