U.S. Dollar dipped again

24 Aug 2018 03:05 PM

The US dollar hit its biggest weekly drop since March as markets awaited the speech of Federal Reserve Chairman Jerome Powell at 14:00 pm GMT, with monetary policy going to be a big part of it.

The dollar index fell to trade at 95.30 again after hitting a two-day high of 95.71 yesterday and approaching retesting an uptrend line on the daily chart.

The US dollar remains under pressure, especially after U.S. President said he was not happy to raise interest rates, in addition to the political uncertainty in the United States reinforced by the condemnation of a former Trump adviser.

The pound hit its lowest level against the euro in almost a year at 0.9026, on concern about whether Britain could secure a trade deal with the European Union.

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