For the past week, investors have been selling US dollars and unfortunately today at the July Federal Reserve monetary policy announcement, Jerome Powell’s team failed to shift the trend. Instead, the central bank warned that the virus poses considerable risks and they will use full range of tools to support the economy. In reaction, investors drove the greenback to fresh lows against all of the major currencies. Euro continues to receive most of the inflows but sterling, Swiss Franc and the Australian dollars also saw significant demand. Although the greenback ended the day off its lows, it is still struggling to ... (full story)