State of the market
On Monday tradres, the overall market dynamics remain restrained and aimed at a moderate correction of the US dollar against growth. The exception was the British pound. The pound remained under the pressure across the market. The reason for the collapse of the British pound was the statement of the British Foreign Office about the possibility of Brexit without a deal, if the EU does not revise the agreement. Later, British Prime Minister B. Johnson confirmed the intention of the UK leaving the EU without a trade deal, unless a new deal is concluded.
These events actually supported the US dollar against a basket of competitors.
The US dollar index updated the last months high, which also increased the overbought of the American dollar, which is limited to resistance levels: 98.20 and 98.30.
Fig. The US dollar index chart. The current price is 98.10 (10-year US government bonds yield is the blue line)
Read also: “Some features of the Fibonacci grid”
Andre Green
Earn with the help of the trade service on the news Erste News!
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