US DOLLAR RALLY PAUSES AS AUD/USD & GBP/USD PRICE GAIN GROUND, USD/CAD DROPSUSD worth motion set to peel again 0.8% as US mar
US DOLLAR RALLY PAUSES AS AUD/USD & GBP/USD PRICE GAIN GROUND, USD/CAD DROPS
- USD worth motion set to peel again 0.8% as US markets come on-line for Friday’s buying and selling session
- A surging US Dollar has launched the DXY Index almost 8% increased off its month-to-date low
- GBP/USD spikes increased as AUD/USD finds reduction from current promoting strain whereas USD/CAD reverses
An unbelievable rally within the US Greenback over the previous two weeks is on tempo to complete at this time’s buying and selling session on its again foot. The broader DXY Index has climbed greater than 7% for the reason that March 09 intraday low as a result of a surging US Greenback towards major peers.
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Amid the coronavirus pandemic and pessimistic market sentiment, the US Greenback has gained floor largely on the again of its premier standing as a safe-haven currency.
DXY – US DOLLAR INDEX PRICE CHART: WEEKLY TIME FRAME (OCT 2016 TO MAR 2020)
The leap within the US Greenback during the last two weeks has pushed the DXY above 100 and to a three-year excessive. Though, the staggering spike in USD worth motion…