USD FORECAST: US DOLLAR GYRATES ON FED LIQUIDITY CANNON & CORONAVIRUS FEARS
- The US Dollar pivoted decrease to start out the week after one other emergency FOMC rate of interest minimize and introduced liquidity injection
- USD value motion stays supported by demand for safe-haven currencies
- FX volatility is pushing excessive highs because the brewing coronavirus pandemic stokes danger of recession
The US Greenback took a spill throughout Monday’s buying and selling session with the US Greenback Index (DXY) dropping about 0.7% to the 98.00 deal with. US Greenback weak point was noticeable relative to the Japanese Yen (JPY) and the Euro (EUR) particularly, which adopted information that the Federal Reserve cut rates to zero. The Fed additionally introduced it’ll ramp up quantitative easing efforts with plans on injecting $700 billion of liquidity.
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USD PRICE OUTLOOK – US DOLLAR IMPLIED VOLATILITY & TRADING RANGES (1-WEEK)
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Measurements of anticipated currency volatility have exploded towards excessive highs…