BBH analysts note that the US dollar is trading flat on Tuesday as markets await further stimulus.
US data this week could confirm another rise
“The DXY Dollar Index is trading flat for the second day in a row near 104.067 after hitting a new high for this move near 104.309 on Friday. It remains on track to test the May 31 high near 104.699.”
“The Euro is trading flat near 1.0810, having hit a new low on this move on Friday near 1.0765. The British Pound is trading flat near 1.26, having hit a fresh low on this move on Friday near 1.2560. It remains in on track to test May low near 1.2310”.
“USD/JPY is trading higher near 146.65 as it tests the upside of its 145.00-150.00 trading range. As the BoJ remains dovish, we expect an eventual test of 150.00. Fundamental history continues to move in favor of the Greenback. Powell’s speech on Friday confirms the Fed’s hawkish stance and we think this week’s US data could confirm another hike, which of course is dollar positive.”
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.
