Thursday ended with the EUR/USD being high above of local resistance of 1.10. What's the target now?
Greenback is steady with focus on Fed gathering
On Tuesday, the evergreen buck was sturdy enough keeping to two-week maximums against a basket of key currencies, with market participants waiting for the Fed’s policy gathering this week for new catalysts.
Tracking the greenback versus a basket of six key peers, the US dollar index tacked on 0.1% being worth 93.931. It turned to be within sight of Friday's ascend of 94.087, which is the highest value since November 21.
The Fed is generally believed to lift interest rates at its two-day policy gathering, which will end on Wednesday. The US key bank is also supposed to tighten its monetary policy further in 2018.
The vast majority of market experts surveyed by Reuters expect three more rate lifts in 2018 versus two when polled weeks ago. However, the outlook is still overshadowed by persistently subdued inflation.
The common currency was last caught at $1.1771, having rebounded from Monday's intraday maximum of $1.1811.
Risk-on is back on the market. Riskier currencies and stocks are in favor. Gold is rising too as investors try to hedge.
Riskier currencies and stocks are in favor of investors. Surprisingly, gold rallies too. Let’s have a closer look.
Congratulations! Gold has just opened a new era... or, rather, reopened...