US DOLLAR FORECAST: USD/JPY, EUR/USD, GBP/USD, AUD/USD PRICE OUTLOOKThe US Dollar Index (DXY) units its sights again on the 100.0
US DOLLAR FORECAST: USD/JPY, EUR/USD, GBP/USD, AUD/USD PRICE OUTLOOK
- The US Dollar Index (DXY) units its sights again on the 100.00 deal with after USD value motion rips practically 5% greater during the last six buying and selling periods
- Spot USD/JPY costs pop as EUR/USD and GBP/USD drop regardless of more and more accommodative financial coverage actions from the FOMC
- AUD/USD extends its rout with spot costs bleeding deeper into the lows recorded throughout the world monetary disaster over a decade in the past
USD value motion, gauged by the US Greenback Index, is on a tear greater after its sharp slide starting late final month. The broad selloff within the US Greenback was sparked by rekindled recession threat, largely attributable to financial fallout from the coronavirus outbreak, which prompted the Federal Reserve to slash benchmark curiosity rates to zero and launch a $700bn quantitative easing program.
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US DOLLAR INDEX PRICE CHART: DAILY TIME FRAME (DECEMBER 30, 2019 T0 MARCH 17, 2020)
Chart created by @RichDvorakFX with TradingView
Regardless of current dovish motion…