Trump strikes another blow at the US dollar
Before the opening of the US session, the US dollar index accelerated the decline, because of Trump’s twit with criticism in the direction of Fed raising the rates. So, the US president said that the EU and China are manipulating interest rates, playing on a slide when the US raises them, depriving the US economy of a competitive advantage.
Later, a Fed spokesman, Bullard, joined the words of Trump, who expressed concerns about further rate hikes, confirming fears that the Fed could change the hawk tone regarding the two rate hikes this year.
The dollar index in negative conditions rushed to the lower border of the rising channel and traded near the support levels: 94.60 and 94.40, limited to significant oversold and upward dynamics of July.
The US dollar index chart. The current price is 94.50(10-year government bonds yield is a blue line)
Read also: “Alert in the trading terminal MT4 and its use”
Hanzenko Anton
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog: