The dollar's status as the world's reserve currency could only be recovered if the US controls its spending. The huge budget deficit and rising interest rates on the US national debt should scare every American, analysts say. Read the full report to learn more!
BlackRock CEO Supports The USD
Happy Tuesday, dear traders. This week is gaining momentum, and we're here to check the freshest news, moving the markets today!
- JPMorgan believes the US dollar will remain strong in 3-6 months.
- BTCUSD reached $35,000 for the first time since May 2022.
- Bullock (Reserve Bank of Australia) says the Bank will undoubtedly raise rates if inflation rises again. AUDUSD is up 300 points today.
- China's stock market falls to pre-Covid lows. HK50 is down 0.42% today.
- Bloomberg says the Bank of Japan may reconsider yield curve control policy due to rising US yields. USDJPY is down 150 points today.
- BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today.
USDCHF technical analysis
USCHF is moving inside the descending channel. Currently, the price is bouncing off the 0.8900 support level. If buyers push USDCHF above the upper channel's border, the pair will move to 0.8960, 0.9000, and 0.9030.
Have a great trading session!
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