Analysis of the American session
Trades at the US session on Wednesday closed with a collapse of the US dollar across the market. This was due to the publication of the US Fed meeting results, despite the fact that the Fed kept key interest rates unchanged. The tone of the Fed has become clearly softer, and the members of the government themselves are more open to stimulating the US economy, which confirmed the decline in inflation and growth forecasts for the US economy.
Against the backdrop of expectations of rates cut in the United States in the future, the US dollar index collapsed against a basket of major competitors. It continued to decline at the opening of the Asia-Pacific marketplaces, entrenched below the psychological level of 97.00, indicating a deeper decline to support levels: 96.70 and 96.50.
Fig. The US dollar index chart. The current price is 97.70 (10-year US government bonds yield is the blue line)
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Andre Green
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