Analysis of the American Trading Session
Trading on the American session on Monday closed with a moderate decline against a basket of competitors. The reason for the weakening of the dollar against most competitors was the data on the postponement of the introduction of new duties on Chinese goods. But by the end of the day, the American dollar managed to strengthen noticeably thanks to commodity currencies. Pressure on commodity currencies was caused by the US president statement towards OPEC, who called on OPEC members to relax and not raise the cost of oil.
The US dollar index on Monday was trading in different directions in the range from 96.60 to 96.30, retaining the downward trend in the US dollar, but continued to be limited to weekly lows.
The US dollar index chart. The current price is 96.40 (10-year government bonds yield is the blue line)
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Andre Green
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