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Analysis of the American session
Trades at the American session on Wednesday closed with a general decline in the US dollar across the market. The reason for the collapse of the American dollar comments Fed US Powell. The tone of which was more dovish and pointed to the stimulation of the US economy. As a result, expectations of stimulating the economy from the Fed have intensified.
Due to the increased likelihood of the US interest rates cuts, the US dollar index slowed the uptrend and moved to a correction. Significant support are the levels: 97.00 and 96.80.
Fig. The US dollar index chart. The current price is 96.90 (10-year US government bonds yield is the blue line)
Read also: “Trade balance influence on the country’s economy”
Andre Green
Earn with the help of the trade service on the news Erste News!
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