The dollar is under pressure after the Bostic’s statement
The US dollar collapsed across the market after Atlanta’s Federal Reserve Bank Head Bostic said that the US Fed should show that it is not obsessed with interest rates, adding that time is needed for the economy, which will show the results we’ve taken earlier.
As a result, Bostic actually confirmed the market’s fears that the Fed is ending the period of tightening US monetary policy through a rate hike, which caused the US dollar index to fall to its annual lows of 95.30. At the same time, the further decline of the American dollar will be limited to oversold and trading channel. Support levels are located at 95.30, 95.00 and 94.80.
The US dollar index chart. The current price is 95.30 (10-year government bonds yield is the blue line)
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Hanzenko Anton
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