USD Going Down or Up?


 The US dollar traded mixed in the European session, seeing it lower against European currencies but higher against commodity currencies and the yen.

The uncertainty comes as investors prepare for the close of trading for February.

The greenback is now on track for its first monthly gain in four months with gains around 2.5%.

Among the currencies that rose the most was the pound which continued to climb higher amid positive developments on the post-Brexit trade deal.

The UK and the European Union (EU) have reportedly amended the Northern Ireland Protocol agreement and agreed to a new 'Windsor framework'.

In addition, the euro also showed an increase by taking advantage of the decline in the US dollar at the beginning of the European trading session.

Even so, commodity currency trading, the Aussie, New Zealand and Canadian dollars failed to show an increase, instead remaining stuck around the lowest level against the USD.

For dollar loonie investors, the release of Canada's gross domestic product (GDP) data in the upcoming New York session will be the next mover for the currency.

Meanwhile, the yen fell further to a fresh 2-month low against the US dollar amid uncertainty about the Bank of Japan's (BOJ) governor-elect's stance on its monetary policy.