Dollar has finally surpassed the previous high of 57.30 and it is trading higher close to 58 zone. I had written a something about the upward momentum in dollar 3rd March 2013(search dollar in the blog , u'll get it!!!)The bullish stand in dollar is justified by the movement in dollar index too. If we observe the dollar index we could see that Dollar/INR was rising when the dollar index was not rising and the correction in dollar index seems to be over and it would give a long term bullish view for dollar. It can be in the last leg of up move to 59+ as the dollar index can move up after the current correction. Thus in this move dollar index too would offer the support for dollar and it can be dangerous for who are short in dollar. It gives a dirty picture of the Indian economy along with the rise in crude oil prices and the equity market investors should be a little bit cautious at this juncture
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