Forex Today: US Dollar Index Reaches New High on Euro Energy USD Forextrading news Finance Markets
is trading well below $1.1500 at its lowest price seen since the March 2020 coronavirus panic. These movements are in line with a strong, long-term bullish trend in the US Dollar, and we are likely to see lower prices in these currency pairs over the coming days.
has not reached a new high today but is holding up well above the big psychological round number at ¥140., which seems to have increased the likelihood that the Federal Reserve will hike rates by 0.75% rather than 0.50% at its next meeting. Fears over European energy has sharpened focus on this week’s ECB meeting, in which the Bank is expected to hike rates by 0.75%, which will put great pressure on southern European debt.
is rallying a bit, but the move is nothing special. Energies are getting a small boost from the European crisis plus increased speculation that OPEC may impose a lower production quota soon. markets are likely to be quiet during the normal US session hours.
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