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Trade of the week
USDCHF Makes A Comeback
The US dollar has been holding strong against major currencies ahead of the Fed’s first meeting of the year. Market participants eagerly await the central bank’s policy outlook for 2020. As trade sentiment improves, most expect rates to stay low until inflation picks up. A confident Fed could maintain the greenback’s upward trajectory. The downside risk, though less likely, would be a dovish stance which would undercut market optimism. The dollar has recouped most losses from mid-January. 0.9760 will be seller’s stronghold to keep the downtrend intact.Test your strategy on how the CHF will fare with Orbex - Open Your Account Now.
EURJPY Struggles To Stay Up
The single currency could carry on the sell-off triggered by a passive ECB last week. Policymakers pledged to stick with the bond-buying programme, and if needed, cut interest rates until inflation makes its return in the euro zone. As a result, markets will be extremely sensitive to thi...
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