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The world’s reserve currency has continued to weaken during the European trading session hitting major levels in many pairs. USD/CNY has fallen to its lowest level since May 2019 as it moves closer to the 6.80 level, DXY slipped below 92.00 and EUR/USD surged through the magical 1.20 barrier before paring back some losses.Last week’s decision by the Fed to adopt a flexible average inflation target is still encouraging renewed US dollar selling with risk sentiment constructive on the first day of September also not helping the poorly greenback. The million-dollar question, so to speak, is... Read More
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