The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
EUR/USD: forecast for Sep. 18-22
The euro remains fundamentally strong. However, in the upcoming days market players will focus on the US dollar’s side of things. Traders will likely be cautious ahead of the Federal Reserve’s meeting on Wednesday. This event may set the trend for the next couple of months. If the Fed expresses concerns about the US economic outlook because of the devastating hurricanes and low wage growth, EUR/USD will once again fly sky-high. On the contrary, comments about the approaching rate hikes will send the pair down.
The pound is highly volatile after a Brexit referendum. Have a look what other factors affect the UK currency. And get clues on future movements of GBP.
This is Forex trading plan for Thursday, May 24…
It seems like the rally of the greenback has ended. On Monday, the US dollar index tested levels near $94, however, closed below $93.50.