The position of the dollar is consistently high, there is no alternative to the American


The dollar took a short breather but was still serious about major currencies, while the pound stabilized after the government of British Prime Minister Theresa May won a vote of no-confidence. As for the euro, the dollar will grow due to constant concerns about the eurozone economy, which affected the single European currency. The data this week showed that Germany barely avoided a recession in the second half of 2018, and ECB head Mario Draghi warned that the eurozone economy was weaker than expected. This is likely to be the reason for the dollar to continue to grow against the euro, as it has been for the last five sessions when it rose by about 1.5 percent.


You should also pay attention to the message that the US federal prosecutor is investigating the case of Huawei and may soon file an indictment on the fear that the closure of the US government will begin to affect the economy. Now there are many factors in favor of the completion of the Fed rate increase cycle, and some even talk about the need to cut rates this year. The next meeting on monetary policy will be held on January 29-30. It is worth noting that American business has become less optimistic in recent months, which supports the statement by Fed Chairman Jerome Powell that patience is now needed with regard to raising interest rates.

The material has been provided by InstaForex Company -