Hopes for dollar growth become more vague with each week
Uncertain start of a new week.
Earlier this week, the dollar rose slightly, but is still near the lowest 1.1776. Instability in Washington and doubts about the rate increase do not allow the dollar to renew its strength.
In addition, the dollar is under pressure from the fact that inflation remains at a low level, despite the fact that in the second quarter was the growth of US GDP.
The dollar was also negatively impacted by the lower probability of reform and Trump’s projects. (Tax reform and increased spending on infrastructure projects).
Similarly, the US Senate failed to reform the US health system (Obamacare) on Friday. This also significantly influenced the implementation of the Trump course.
The US dollar index, which shows the purchasing power of the dollar to a trade-weighted basket of six major currencies, traded at 93.31
The dollar fell against the yen. The pair USD/JPY is trading at position 110.62 after falling to a monthly low of 110.30 during the night trading.
EUR/USD slipped by 0.2% to 1.1737, staying close to the maximum of 1.1776 on Thursday – the highest value since January 2015.
GBP/USD is trading at 1.3103. Resistance is a maximum of 1.3158.
Created by Joshua Hayn