Analysis of the American session
Trading of the American session on Friday closed with a decrease of the American dollar, which was caused by an exacerbation of the expectations of interest rates cut in the US. Earlier, a number of the Fed Chairman Powell speeches affected these sentiments. As a result of the speeches, expectations for the rates cut at the upcoming Fed meeting increased sharply.
On an increase in the expectation of the US rates cut, the American dollar accelerated the decline at the end of the week against most of its main competitors. Oversold across the market has also increased, which may slow down its decline in the future. The US dollar index is limited to support levels: 96.60 and 96.40.
Fig. The US dollar index chart. The current price is 96.80 (10-year US government bonds yield is the blue line)
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Hanzenko Anton
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