There was nothing positive about the dollar last week.
Expectation of faster pace of rate hike has been further dampened by speeches of the Fed members.
Some felt that the rate has reached its normalised level while many felt that they are very close to the end of the rate hike.
Data has also shown that the U.S. economy has begun to slow down.
Furthermore, the U.S. government remained shutdown as Trump persisted for the funding of the South border wall.
It is all reflected clearly in the price action of the dollar as we seen it broke below 95.
The tone of the Fed has changed drastically as compared to the time where Fed Powell first took over position as the chairman.
The dollar may continue its retracement from the bottom between 94 and 95 towards the demand zone just above 96.
Expectation of faster pace of rate hike has been further dampened by speeches of the Fed members.
Some felt that the rate has reached its normalised level while many felt that they are very close to the end of the rate hike.
Data has also shown that the U.S. economy has begun to slow down.
Furthermore, the U.S. government remained shutdown as Trump persisted for the funding of the South border wall.
It is all reflected clearly in the price action of the dollar as we seen it broke below 95.
The tone of the Fed has changed drastically as compared to the time where Fed Powell first took over position as the chairman.
The dollar may continue its retracement from the bottom between 94 and 95 towards the demand zone just above 96.
