US DOLLAR FORECAST: US DOLLAR EXTENDS SURGE AS EUR/USD PRICE ACTION PLUNGES AGAIN, USD/JPY JUMPS FURTHER & USD/MXN EXPLODES T
US DOLLAR FORECAST: US DOLLAR EXTENDS SURGE AS EUR/USD PRICE ACTION PLUNGES AGAIN, USD/JPY JUMPS FURTHER & USD/MXN EXPLODES TO NEW HIGHS
- The US Dollar continues to surge with the DXY Index buying and selling 7.5% above month-to-date lows and at its highest studying since January 2017
- USD power has dominated the route of major currency pairs not too long ago as coronavirus considerations deepen regardless of huge stimulus efforts from the Fed
- EUR/USD value motion seems to be to check three-year lows after taking a 7% tumble since as spot USD/JPY climbs increased and the USD/MXN breakout prints its strongest studying on file
FX merchants preserve bidding up the US Greenback amid far-felt threat aversion. Primarily catalyzed by the novel coronavirus outbreak (COVID-19), which has plagued world markets for a lot of the 12 months, investor angst has bolstered the USD to multi-year highs.
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That is largely attributed to King Greenback’s posturing as the last word safe-haven currency. That mentioned, and in gentle of accommodative actions not too long ago taken by the FOMC, can the surge in USD value…