Analysis of the American Trading Session

Trading on the American session on Thursday closed with a general decline in the US dollar across the market. The driver for the American dollar sale was the comments of US Federal Reserve Chairman Powell that interest rates are close to the neutral level, which indicates that the Fed may slow down the rate of rate hikes in the future.

Amid a slowdown in the monetary policy tightening by the Fed, the US dollar declined rapidly and closed the day at 96.80-70, which cast doubt on keeping an uptrend in the American dollar, which was observed last week. Changing the Fed’s policy may put more pressure on the dollar.

The US dollar index chart. Current price – 96.70 (10-year government bond yield – blue line)

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Andre Green

Earn with the help of the trade service on the news Erste News!

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