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US dollar fell against major currencies with the possibility of a rate cut

2019-06-24 03:00 pm | Resource: News | No Views : 166

  US dollar fell against major currencies with the possibility of a rate cut

The US dollar fell against major currencies in European session on Monday as investors focused on the possibility of a Fed rate cut amid uncertain global economic outlook.

In the wake of the pessimistic federal sentiment last week, market participants are cutting interest rates sooner rather than later. Federal Reserve Chairman Jerome Powell is scheduled to speak at the Council on Foreign Relations in New York on Tuesday, where he will talk about economic outlook and monetary policy.

Trump: The Federal Reserve has an opportunity to boost the US economy

US President Donald Trump criticized the Federal Reserve on Monday for failing to cut interest rates, saying the cautious Fed would benefit the economy.

Trump "Although the Fed does not know what it does - raising interest rates very quickly (very low inflation, and other parts of the world slowing down, reducing and easing) and doing a large-scale tightening, $ 50 billion per month, we are on track to get One of the best month of June in US history, think of what could have happened if the Fed had got it right, where thousands of points rose in the Dow and GDP at 4 or even 5. A stubborn child, When we need to cut interest rates and reduce, to compensate for what other countries are doing against us.

Trump has urged the central bank to cut interest rates for months. At the same time, policymakers decided last week to keep interest rates unchanged. However, traders are confident that the Fed will cut interest rates next month after Chairman Jerome Powell said that "many participants now see a somewhat more tolerant policy."

Dollar trading against major currencies
  • The greenback fell to 0.9744 against the franc, the weakest since Jan. 10.
  • The dollar dropped to 107.25 against the yen, from a high of 107.48 at 7:45 am
  • The US currency, which closed last week's trading at 1.1369 against the euro, fell to more than 3 months low from 1.1399.
  • The greenback was trading at 1.2752 against the pound near a 5-week low of 1.2766
  • The US dollar fell to 1.3178 against the Canadian dollar.
  • On the other hand, the greenback remained flat against the Australian dollar at 0.6961.


Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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