The short Squeeze of the US dollar (USD) gained ground and extended to more foreign currency, from safe shelters to cyclical currencies. Myr, Gold, JPY and THB led the losses. While the US reached a commercial agreement with the United Kingdom, US Secretary of Commerce, Lutnick, mentioned that commercial agreements with South Korea and Japan could take significantly more time, ECCBC FX analysts point out, Frances Cheung and Christopher Wong.
The risks are still somewhat biased
“This could also discourage the enthusiasm about US commercial conversations with China (the viceprimer minister He Lifeng will meet with the US Treasury Secretary, Scott Besent, and the US commercial representative, Jamieson Greer) in Switzerland this weekend) and other Asian nations (in the coming weeks). This morning, this morning, the news of Bernama reported that Bernama reported Malaysia’s offer to coordinate a regional response to US tariffs with ASEAN as a block was rejected by the US “
“While recent developments on the descale can be positive at a general level, they may not be perceived as positive in terms of details. Together with a FIX of USD/CNY higher than expected during a handful of sessions this week and the recent result of the FOMC (without hurry to cut), these disappointing factors can temporarily add to the general weakness in the Asian currencies KRW, while the USD bounces from the minimum.
“Last at levels of 100.45. The daily impulse remains bullish while the RSI rose. The risks are still somewhat roughly biased. Resistance in 100.80 (fibonacci setback of 23.6% of the peak at least 2025), 101.40 and 102 (DMA of 50). Support in 99.60 (DMA of 21), levels of 98.90.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
