FXStreet — After the US Dollar Index, the Greenback versus six major currencies on a trade-weighted Basis, compares, in the European business to a recovery back above the 99-point mark failed, he turned South again and slipped to the lowest level since the beginning of November at 97,44. Finally, the Index stood at 97,50 and 0.6 per cent in the Minus.
In early trading, the Greenback documented gains against the commodity currencies such as the Australian and new Zealand dollars, the price fell, but in comparison to the safe havens like the Japanese Yen and gold. This suggests that the relapse of the DXY is largely due to the flight to safe havens. The sharp reversal of the trend of the Aussies and Kiwis in the early American trade demonstrates, however, that the investors will repel once again the USD.
The political tensions in Washington for uncertainty about whether Trumps government can actually enforce the Pro-growth Agenda, which you are planning. That’s why the Greenback was last in the knee. In addition, the major stock exchanges in the United States are on the decline, while the VIX volatility index is rising, the largest day since 03. November marks.
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The next supports are now at 97,00 (psychological mark), 96,50 (Deep 10. October) 96,00 (psychological mark). Technical Resistances now lie at 98,00 (daily high), 98,40 (Deep 08. May) and 99 (psychological mark).
** FXStreet News Editorial, FXStreet**