State of the market: the dollar remains in the correction phase
At the opening of trading on Wednesday, the US dollar remains under the pressure against a basket of competitors. The pressure on the American dollar intensified after the publication of weak data on business activity in the US manufacturing sector. That was the reason for the correction of the American dollar after growth. The general dynamics of the market is aimed at strengthening against the US dollar, which may be limited in the conditions of optimism growth, which can be seen on the Chinese stock exchanges.
From the start of the day, the US dollar index has remained under the pressure of correction, limited by support levels: 98.80 and 98.50. The limiting factor for the weakening of the US dollar is the restrained dynamics of the US government bonds, which is trading near weekly lows.
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Hanzenko Anton
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