Analysis of the American session

The US session on Monday closed with a modest strengthening of the US dollar index against a basket of competitors. The reason for this was the sharp exacerbation of the negative sentiment on Brexit without a deal after comments by the British Prime Minister Johnson. Against this background, the British pound was under a considerable pressure across the market. The US dollar showed restrained movement against the majority of competitors, which is associated with the expectation of the US Federal Reserve meeting.

• The main driver of trading on Tuesday remains the weakness of the British pound and the expectation of the US Federal Reserve meeting on Wednesday.

The US dollar index maintains an upward trend, limited to overbought and resistance levels: 98.20 and 98.40.

Fig. The US dollar index chart. The current price is 98.20 (10-year US government bonds yield is the blue line)

Read also: “Long-term positions on world indices”

Andre Green

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