State of the market: the American dollar maintains optimism in low-activity market

New week opened a trades with the strengthening of the US dollar across the market against the background of maintaining optimism on the US dollar and the absence of other drivers in the market. The main factor to strengthen the American dollar is the tough monetary policy of the Fed, which has increased optimism about the further rates hikes, and low activity at the beginning of the week. As a result, investors prefer to buy safe havon assets supporting the US dollar.

The US dollar index against the basket of major competitors at the start of the week showed a rapid growth in the Asia-Pacific session, caused by the continued optimism in the dollar. The rising dynamics of the American dollar turned out to be limited by overbought and resistance levels: 97.50 and 97.70. Low market activity will contribute to the strengthening of the dollar, which will confirm the safety of the upward trend.

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Hanzenko Anton

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