State of the market: the American dollar is under the pressure despite an increase of optimism

Friday’s trading opened with a decrease in the US dollar against a basket of competitors. The reason for this was the yesterday’s controversial comments by the US Federal Reserve Chairman Powell and the information that the US – China trade talks remain without development. At the same time, optimism returned to the stock markets, supporting risky assets and causing a correction after the decline. By doing so, it increased a pressure on the safe haven currencies.

The US dollar index is trading below 98.20 after yesterday’s rapid decline in the comments of the US Federal Reserve, forming lateral dynamics and indicating a slowdown in the uptrend. It is limited by the side channel from 98.30-40 to 98.10-00.

Read also: “Japanese Yen: expectations and prospects”

Hanzenko Anton

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