Analysis of the American session
The American session on Thursday closed with a general euro strengthening on the ECB meeting results. The reason for the strengthening of the single currency was the less dovish tone of the ECB and the revision of the forecasts for inflation and economic growth rates in the eurozone upward. At the same time, the general ECB monetary policy remained soft.
Against the background of a general strengthening of the euro, the pressure on the US dollar, which remains under pressure on expectations of lowering the US rates, has increased. As a result, the American dollar descended to lows against most major competitors. A constraining factor for the dollar continued to act upcoming employment data in the United States.
Fig. The US dollar index chart. The current price is 97.10 (10-year US government bonds yield is the blue line)
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Andre Green
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