Dol­lar hov­er­ing around 94.50

Financial Mirror (Cyprus) - - FRONT PAGE -

The Dol­lar ap­pre­ci­ated slightly against a bas­ket of cur­ren­cies at the star of the week, as in­vestors con­tin­ued to pon­der over the fate of the pro­posed U.S. tax re­forms.

With the Green­back be­com­ing in­creas­ingly sen­si­tive to ex­pec­ta­tions of pro­posed tax re­forms, any pos­i­tive or neg­a­tive news on these de­vel­op­ments has the abil­ity to spark volatil­ity. Fo­cus­ing on the tech­ni­cal pic­ture, the Dol­lar In­dex is un­der some sell­ing pres­sure on the daily charts. Sus­tained weak­ness be­low 94.40 may en­cour­age a fur­ther de­cline lower towards 94.00. In an al­ter­na­tive sce­nario, a break­out back above 94.70 may trig­ger an in­cline towards the 95.10 re­sis­tance.

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