State of the market: the US dollar remains near monthly highs

The US dollar index versus a basket of major currencies is trading at the opening day level on Wednesday, actually maintaining an upward trend after yesterday’s rapid growth on the general decline of the euro. The reason for the sale of the single currency was data on maintaining the budget deficit in Italy and its increase in France, which caused a wave of pessimism about the euro and the appropriateness of the ECB’s monetary policy.

The US dollar index is trading near significant resistance 97.50-40, limited to them and overbought. Fixing above this resistance will open the way to the level of 97.70-80. The limiting factor for American dollar growth is the growth of optimism and the expectation of the US data.

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Hanzenko Anton

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