US dollar is trying to stabilize its positions

In the absence of  significant news  during trading on Monday, the main driver of the market remains the Fed’s meeting on Wednesday, March 21, where it is expected the Fed will raise the interest rate by 1.5% to 1.75%. The increase in the basic interest rate negatively affects the quotations of US companies shares  due to the rise in price of loans, in turn, flow of capital between  markets is traced on the market, while the decline in major stock indexes can support the US currency. At the beginning of trading, the major US stock indices show a negative trend: Dow -0.96%, S & P 500 -0.86%, Nasdaq -1.04%.

The US dollar index maintains its positions near a significant support level of 89.40. In case of further decline of the index and consolidation below the level of 89.40, a further decrease to 89.00 is possible.

Fig. US dollar index Graph. The current price of DXY is 89.58.

Alexander Sivtsov