Analysis of the past week

At the end of the outgoing week, most major currencies strengthened against the US dollar significantly. The main decline of the American dollar was traced against the British pound and the euro, which was caused by the development of the situation on Brexit. Thus, during the week, there were three votes in the UK, which resulted in the UK not leaving the EU with the deal of Prime Minister T. Mei without a deal. It was also voted to extend the Brexit deadline until the end of June. As a result, political uncertainty in the UK has become the main driver of trading this week.

The US dollar index for the week weakened by more than 1%, updating a low at the level of 96.40, thus indicating a downward correction against the February growth. And with the consolidation below 96.50-40, the way to support levels opens: 96.20 and 96.00.

The US dollar index H4 chart. The current price is 96.50 (10-year government bonds yield is the blue line)

Hanzenko Anton