Analysis of the American session
The US trading session on Wednesday closed with a growth of the US dollar against its main competitors. The main support for the American dollar was a decline in the euro, which reached the average monthly low against the US dollar and a number of other world currencies. The main pressure on the European currency was exerted by expectations of an aggressive rate cut by the ECB. The reason for this was the persistence of risks in the market and rumors about an increase in the stimulation of the eurozone economy, which were particularly aggravated before the ECB meeting, which will be held on Thursday.
The dollar and the British pound received a notable support amid a decline in the euro. The pound to a greater extent received a reason for correction. The US dollar index accelerated the overall upward trend, but was limited by overbought and pending the US data. The US dollar index is trading near highs, limited to the side channel from 97.80-90 to 97.50-40.
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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