The euro/U.S. dollar (EUR/USD) currency pair spiked higher before coming under intense selling pressure in the immediate aftermath of the European Central Bank meeting as speculators judged the policy statement to be overall more bearish than bullish.
It’s remarkable how the dollar remains depressed and unloved, despite the Federal Reserve expressing optimism over increased inflationary pressures as the year moves on.
In what would otherwise have been a quiet day ahead of a potentially volatile Friday, we saw the dollar index some sharp moves in three particular major currencies.
King Dollar flexed its muscles against a basket of major currencies during Tuesday’s trading session, as investors positioned ahead of Janet Yellen’s hotly anticipated speech in Cleveland later today.
Britain has long relied on foreigners to fund a big deficit in its balance of payments, a risk that has been heightened by the country's decision to leave the European Union.
