Dollar Slips and Oil Falls as Markets Reprice Fed and Iran Risks
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
United States. The US dollar is strengthening against the Japanese yen today while posting moderate losses against the euro and the British pound.
EUR/USD is rising for a second consecutive week, extending its recovery while still trading within a broader medium-term descending structure. The pair is hovering near 1.1554 today.
Last week, GBP/USD posted a strong advance as it corrected against the medium-term downtrend and reached the upper boundary of the descending channel near 1.3505. However, the pair gave back part of its gains on Monday.
After yesterday’s decline stopped above the recent low near 80.00, benchmark Brent Crude Oil is correcting slightly above 84.00. Trading activity remains elevated, while prices continue to react primarily to conflicting diplomatic signals from Washington and Tehran and uncertainty surrounding shipping through the Strait of Hormuz.
EUR/USD is correcting near 1.1509 as the US dollar weakens and investors assess signs of a temporary easing in US–Iran tensions, stronger eurozone manufacturing activity and the risk that renewed inflationary pressure could weigh on the region’s economic growth later in the year.
Last week, GBP/USD posted a strong advance as it corrected against the medium-term downtrend and reached the upper boundary of the descending channel near 1.3505. However, the pair gave back part of its gains on Monday.
During the Asian session, the euro is testing the 1.1514 level as market participants assess the outcome of the Federal Reserve’s two-day meeting, which concluded last Wednesday and broadly matched analysts’ expectations.
United States. The US dollar is weakening against the Japanese yen and the British pound while trading mixed against the euro.
Shares of Apple Inc., one of the world’s largest consumer technology companies and a leading developer of personal computers, tablets and smartphones, are trading within an upward trend near 335.00.
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