Optimism about Greece seems to have pushed the Euro
upwards against the US Dollar
. The current trend is upwards. It is now due a downswing. Will the upward trend be sustained? I doubt it. The Dollar zone is promising an imminent rise in interest rate, maybe as soon as September, while the Euro
zone is only beginning its ZIRP and QE
. The pressure has to be for the Dollar to rise in the months ahead, even as the DOW and NASDAQ falter.