Further supporting the U.S. dollar rally, the British pound has plunged to three-decade lows on fears of a so-called hard Brexit after U.K. Prime Minister told the Conservative party conference that Britain would trigger Article 50 – the official legal notification that would begin the exit negotiations with the European Union – “no later than the end of March.”
SEE MORE: Pound ETF Retreats as Sterling Slips Toward 31-Year Low
Looking at the daily chart for the December Dollar Index futures, we notice the index briefly trading above the 99.000 level before aggressive selling emerged which send the December futures down 1.300 points from the recent highs,” notes Options Express.
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PowerShares DB U.S. Dollar Index Bullish Fund
