Today on Tuesday (June 28), the US dollar opened at 103.95 and closed at 103.96 yesterday. As of now, the highest has touched 104.02 and the lowest has been 103.90. Temporarily reported 135.44, down 0.05%. EURUSD were temporarily reported at 1.0578, down 0.03%; the US dollar and Canadian dollar were temporarily reported at 1.2861, down 0.14%.
In early Asian trading on Tuesday (June 28), the U.S. dollar index traded around 103.94. The softening of inflation expectations prompted people to reassess the prospect of aggressive interest rate hikes. Traders waited for Federal Reserve Chairman Powell and European Central Bank President Lagarde on Wednesday. Speech at the ECB Forum.
Looking back at the trend of the US dollar index last week, it can be clearly seen that the price of the US dollar is actually fluctuating back and forth within a range, with the upper edge around 104.95 and the lower edge around 103.85, with an overall volatility of about 110 points. Strictly speaking, the volatility of the U.S. dollar index last week was very small. After all, this is a whole week’s market, not a trading day’s market, and the price fluctuated back and forth in the range of 110 points for the whole week. To be honest, this range is indeed too high. small.
Although the market of the US dollar index was very cramped last week, it basically fluctuated back and forth within a small range, but as the global currency hegemon, the US dollar often has a lot of reasons behind such a trend. The school has always emphasized that the general direction of the US dollar index is. Of course it is certain, but at present it is impossible to get out of the market. The reason is that the current situation lacks the elements to stimulate the dollar index to go higher, so the dollar cannot go higher, but at the same time the dollar index cannot go down, otherwise the economy will inevitably suffer more damage. So it can only be oscillating back and forth.
Will the U.S. dollar index explode in energy to push prices this week? This question is currently unanswered. As mentioned above, the current situation is deadlocked there, the defense is strong, and the offense is stretched, unless, in the past two days, something unexpected or very unexpected happens, only then can there be excitement factors, driving the US dollar index to fluctuate,
Edward Moya, senior market analyst at OANDA, said: “It’s hard to say with confidence that a bottom has been reached in U.S. stocks, so many traders are still looking to downplay any rebound that occurs.