Dollar Eases After FOMC Stays Dovish – Investing.com
- Date: 29-Jul-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Gulf
Dollar Eases After FOMC Stays Dovish – Investing.com
It looks like a few taper-hedging positions were taken off yesterday as the broadly eased versus DM and EM. The soothing words from China about targeted versus broader clampdowns also helped relieve the pressure on Asian currencies, including the onshore and offshore yuans.
The fell by 0.22% to 92.22 yesterday, easing another 0.10% in Asia to 92.18. Resistance is now distant at the 92.60 break-out point, and the dollar index looks set to retest support at 92.00 later, which could open up a retest of critical support at 91.50 next week.
rose 0.22% to 11840 yesterday, touching 1.1855 in Asia. Only a lowball German print will derail an attempt at 1.1900, with the single currency having traced out impressive support at 1.1750. is testing its 100-day moving average at 1.3924 today and continues to target further gains to its medium-term pivot level at 1.4000, with only a failure of 1.3800 now changing the bullish narrative.
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