EUR/USD Outlook: US Dollar Eyes Fed Chair Powell, Stimulus

EUR/USD Outlook: US Dollar Eyes Fed Chair Powell, Stimulus

From dailyfx.com

The US Dollar is trading on its back foot to start the week. US Dollar selling pressure was felt across most major currency pairs like EUR/USD, GBP/USD, and USD/JPY. Despite tepid risk appetite for equities during the session, it appears that the latest stretch of US Dollar weakness largely follows the prevailing reflation trade theme as sovereign yields climb and crude oil soars. On balance, the broader DXY Index dropped -0.3% to the 90.10-price level. chart Heavily skewed toward EUR/USD price action with a 57.6% weighting, the DXY Index has pulled back considerably over the last two weeks and just notched a close ... (full story)

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