InstaForex

October 29, 2021

This is the USD Movement Ahead of Weekend Trading!

 The greenback dollar again displayed gains from a nearly one -month low against its major rivals, as the market headed into the weekend and October trading sessions.


At the time of writing, the dollar index traded higher at 93.55 against a basket of other major currencies. Even so, the price is still hovering around the lows touched yesterday.


This follows an increase in 10 -year US treasury yields which rebounded to 1.6%.


Disappointment from U.S. economic data showing a weaker -than -expected reading in the third quarter, did not in the least shake bond yields to rebound following expectations of a stimulus cut to be announced by the central bank next week.



The euro, meanwhile, weakened slightly, but still maintained most of Thursday's gains by trading at 1.1650 against the US dollar.


Meanwhile, the pound still failed to maintain its strength above the 1.3800 price level due to pressure from the latest issue on Brexit which caused the currency to fail to attract investors.


There were reports that France had seized a British trawler and fined another boat, which it looked like would worsen relations between the European Union (EU) and Britain.


In addition to the FOMC policy meeting, the Bank of England (BOE) policy meeting next week will also be the focus of investors who are expected to receive good news on interest rate hikes.