The state of the Asian market: the US dollar is under pressure

In the course of trading on the American trading session, the US dollar accelerated decline across the entire spectrum of the market. The widespread sale of the American was caused by the protocol of the meeting of the US Federal Reserve. In which, despite the positive expectations of a rate increase in December, concerns over inflation were noted. This, against the backdrop of American sales, increased negative sentiment and increased pressure on the US dollar. At the Asian session, this dynamics slowed down due to a weekend in Japan and a decrease in trading volumes.

As a result, the US dollar index managed to overcome the significant support of 93.400 and exit from the horizontal channel. Now the nearest support level is 93.000-92.900. Yesterday’s expectations regarding the possibility of expanding the trade channel were justified. Today in the US, a day off and the main activity will fall on the European session, from which a restrained recovery of the American is expected.

Hanzenko Anton