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The dollar has reached a monthly high and is preparing to take a new height
May 23, 2019 2:21 pmVideo
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The dollar has updated the monthly maximum and is not going to stop; the economic and political uncertainty that has swept Europe and Asia is pushing the “American” up and putting pressure on most major currencies, including the euro and the yuan. The problems of German production, the consequences of the trade war for Asian countries, concerns about Brexit and the upcoming European parliamentary elections — against this background, the US, where the only problem is the trade conflict with China, looks the most attractive, and investors see the dollar as a relatively safe haven.
There is every reason to believe that in the short term, the dollar will retain its popularity as a safe haven, even though the Fed is more relaxed than expected. Especially against the background of other central banks, which are lowering interest rates one by one, the Fed looks like an “aggressor”. The pigeon tone of the world Central Bank will support the growth of the dollar. Other factors are also on the side of the “American”. The activity in the services and manufacturing sectors in Germany is falling, which indicates problems in Europe’s largest economy. Concerns about the global economy are exacerbated by growing political uncertainty, especially in Europe. Brexit and parliamentary elections make investors worry about the stability of the euro and the pound. Both currencies are falling in price.
In addition to the dollar, one should pay attention to the Japanese yen, which has risen sharply in price, since the constant fears of another escalation in the trade conflict between the US and China are excellent grounds for growth. If we add Brexit and other European problems to this, then the yen is waiting for a further rise. The currency rose to 110.23 yen per dollar, rebounding from a two-week low of 110.675, broken through on Tuesday, and also rose 0.2% against the euro, added 0.5% against the pound and rose 0.3% against the Australian dollar.
The material has been provided by InstaForex Company – www.instaforex.com
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