The US dollar fell across board after holding up gains for 9 straight weeks as investors remained cautious ahead of the Federal Reserve’s interest rate decision. Following the outcome of a series of major economic data, analysts are expecting the central bank to hold rates steady but maintain its hawkish narrative on inflation. The dollar index( 
DXY ) which tracks the performance of the US dollar turned south from 105.400 but is still confined within a rising channel as it heads toward the support area around 104.80. Failure to catch bids around the support could see sellers force price towards last week’s low around 104.45
DXY ) which tracks the performance of the US dollar turned south from 105.400 but is still confined within a rising channel as it heads toward the support area around 104.80. Failure to catch bids around the support could see sellers force price towards last week’s low around 104.45
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.