Analysis of the American trading session

During the American session on Monday, October 23, 2017, the US dollar weakened its positions against most of the major currencies of the market. The main reason for the decline in the US dollar in US trading was the fixation of profits on long positions against the US currency. It was caused by the lack of a significant news background in the schedule of calendar. Earlier, the strengthening of the US dollar was fueled by optimism about the tax reform and Donald Trump’s statement that he is close to making a decision on the candidacy for the Fed chairman.

The British pound consolidated its positions against the US dollar during the American session, returning almost all the lost positions in the first half of Monday trading. The growth of the British pound  was promoted by the news about the negotiations. Some progress on the topic of Brexit was achieved. Namely, a unified opinion was reached on the rights of EU citizens in the territory of Great Britain.

Alexander Sivtsov