State of the market

During the European session, the US dollar fell against the basket of currencies and is still under pressure. The main pressure on the US currency was caused by the resumption of a decline in the profitability of the US government bonds. The yield of 10-year and 30-year government bonds shows an average decrease of -0.15%. The pressure on the US dollar is also exerted by the negative dynamics of world stock markets and the expectation of a decline in the major US stock indices.

At the premarket, the major US stock indices show a decline of -0.60%, their further lowering will put additional pressure on the US currency.

Due to this market condition, the US dollar index fell by more than -0.40%.

Fig. Graph of the US dollar index. Current price of DXY is 88.77

Alexander Sivtsov