State of the market: Australian dollar and British pound are strengthening
From the start of trading on Tuesday, local dynamics on specific currencies can be traced on the market. So, at the beginning of the day the Australian dollar received significant support on the of the RBA meeting results. Despite the fact that the RBA left key interest rates unchanged, it signaled a rather high growth of the economy and employment, in fact, retaining a place for tightening interest rates in the future, despite the mentioned risks.
From the start of the day, the British pound has shown a slight strengthening against the euro, amid German Chancellor Angela Merkel’s statement. Merkel said that there is still time to find a way out from a difficult situation on Brexit. Brexit is planned for March 29th.
From the start of the day the US dollar index has been trading with strengthening against the basket of competitors in maintaining upward dynamics, having found significant support at the level of 95.80-70. Further significant resistance for the US dollar is at the levels of 96.00 and 96.20.
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Hanzenko Anton
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