Dol­lar In­dex wob­bles above 95.00

Financial Mirror (Cyprus) - - WORLD -

It is thought-pro­vok­ing how the Dol­lar has weak­ened to a monthly low against its ma­jor peers de­spite trade dis­putes and global growth fears pro­mot­ing risk aver­sion.

Pres­i­dent Trump’s re­peated crit­i­cism of the Fed­eral Re­serve cou­pled with soft U.S. in­fla­tion data re­main key driv­ers be­hind the Dol­lar’s de­pre­ci­a­tion. Although the Green­back still main­tains its sta­tus as a safe­haven cur­rency in times of un­cer­tainty, fur­ther losses could be ex­pe­ri­enced in the short term. The po­ten­tial down­side is based on a tech­ni­cal break­down be­low the 95.00 sup­port level on the daily time­frame. A solid weekly close un­der this level has the po­ten­tial to in­still bears with enough con­fi­dence to at­tack 94.60 and 94.35, re­spec­tively.

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