Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Evergreen buck stands still before Fed minutes
On Wednesday, the greenback was intact versus a basket of the other crucial currencies after backing away from nearly seven month minimums, while China’s Yuan dropped after the country’s credit rating was reduced.
The U.S. dollar index, tracking the American currency’s strength versus a trade-weighted basket of six leading currencies, hit 97.32.
On Monday, the index reached 96.83, which is the lowest outcome since November 9. It gave up all the revenues it had made following the American presidential election in November amid worries surrounding the Trump election campaign's hypothetical links with Russia.
The greenback reached a one-week peak versus the Japanese yen, with USD/JPY soaring 0.16%, being worth 111.94.
The currency pair EUR/USD hit 1.1177, off the six-and-a-half month peaks of 1.1267 achieved on Tuesday.
The British pound grew, with GBP/USD hitting 0.13% and getting to 1.2974.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.