Chinese FX Reserves Grow Amid Dollar Correction

FT: China forex reserves break 8-month run of declines

The dollar remains in a consolidation phase, but it is stronger than it was at this point in the last bull market. In 1999, the dollar was below its 200-day moving average. In 2017, it is above it.

The dollar entered a seldom uninterrupted 2-year uptrend after bottoming in October 1999. If the analog holds, the dollar will bottom in the March to May time frame.

Author: 罗臻

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