Dollar weakens pressure

Prior to the opening of US trading floors, the US dollar index was corrected at a break from the resistance level of 95.00. Earlier, the cause for widespread American growth was the weakening of the euro on political risks in Italy and Spain.

The correction of the American was caused by the technical overselold of the euro and the lack of drivers for the further growth of the US dollar. In addition, with the growth of the negative, the US stock markets turned to be under pressure, the negative opening of which limits the growth of the American. Also, the market continues to expect tomorrow’s data on US GDP, so on the eve of it many investors prefer to reduce risks.

In conditions of a decline in the US stock markets, the US currency will be under pressure of correction, which may eventually lead to a return of the dollar index to the support levels: 94.50-40.

Graph of the US dollar index. Current price – 94.60

Also, read: “Geopolitical risks as the fundamental factors of the market”

Hanzenko Anton