US DOLLAR SELLOFF STYMIED AS USD REBOUNDS OFF TECHNICAL SUPPORT, BREXIT RISK REMAINSThe US Dollar is making an attempt to claw ag
US DOLLAR SELLOFF STYMIED AS USD REBOUNDS OFF TECHNICAL SUPPORT, BREXIT RISK REMAINS
- The US Dollar is making an attempt to claw again current draw back because the buck bounces off confluent assist whereas threat developments start to point out indicators of decay
- USD worth motion continues to be pushed overarchingly by counter-currency efficiency amid peak Brexit drama, although underlying US Greenback fundamentals have weakened a bit as of late
- Obtain the DailyFX 4Q-2019 US Dollar Forecast for complete perception
The US Greenback Index (DXY) is on tempo to print its first black each day candle since October 14 and provides the buck an indication of life close to a serious technical zone following a steep slide by way of a number of layers of assist. Three dominant themes have largely dominated the US Greenback’s path as of late: rising threat urge for food induced by the approaching US-China phase 1 trade agreement, Brexit and the Federal Reserve. The aforementioned have broadly led to bearish worth motion contemplating the US Greenback’s posturing as a safe-haven currency, a powerful rally in GBP/USD because of current Brexit optimism along with firming Fed rate cut bets.
Current developments counsel that the tides might quickly flip, nonetheless, as Brexit threat resurfaces following the timetable vote failure. This will increase the probabilities of a no-deal departure on…