The dollar is under the pressure again

The US dollar accelerated its decline against a basket of competitors, after restrained attempts of growth. The driver for the American dollar sales was the IMF statement that the trade war slowed down the global economy to the level of the financial crisis of 2008-2009. The statement itself did not carry any revelation for the market, but it shifted the market focus to negative expectations in the face of trade uncertainty.

An additional factor in the decline in the US dollar was the evidence that the UK and the EU are preparing a draft version of the deal on Brexit.

As a result, the US dollar index was under the pressure and returned to the downward trend, having formed a rebound from the level of 98.60 earlier and confirming the safety of the lateral dynamics. Support levels are marks: 98.30-20 and 98.00.

Fig. US dollar index chart. Current price – 98.30 (10-year US government bonds yield – blue line)

Read also: “The national currency exchange as an advantage in trade talks”

Hanzenko Anton

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