Bank of France: The decline in the US dollar may be limited.

Kit Juckes of Societe Generale in France stated in a report that the US dollar has fallen against a basket of currencies, as its recent rally has stalled, although its decline may be limited. He said that after the DXY US dollar index hit a nine-month high on Friday, the bullish positioning for the US dollar appears to be excessive. "The forex market is showing signs of a reversal in the dollar's recovery momentum." However, Juckes said, "It is difficult to see the euro or the pound against the US dollar experiencing anything more than a brief rebound."