Trade Of The Week: Dollar Set To Tighten Grip On Throne?

0
14
views

Dollar bulls dominated the G10 space on Monday after Jerome Powell was nominated for a second four-year term as Fed chair by President Joe Biden. Lael Brainard, the other-front running candidate for the job will be vice chair, the White House announced.

The Dollar Index (DXY) extended gains to hit a fresh 16 month high beyond 96.50.

We also witnessed some action on the equally-weighted dollar index which approached resistance at 1.1120.

Powell’s renomination was certainly a welcome development for the greenback, as this meant policy continuity in a post-pandemic… Read More:

For all Articles related to FXTM please click here

OPEN AN ACCOUNT WITH FXTM