The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
US dollar: forecast for August 14-18
The fundamental background for the US currency remains difficult with heightened geopolitical risks, less hawkish comments of the Federal Reserve. Note that consumer inflation failed to accelerate in line with expectations, so there will be more doubts about another Fed’s rate hike this year.
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.