Dollar on the defensive

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 12, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    On Friday, the dollar faced some headwinds. The greenback lost ground against the EM and commodity-related currencies as commodities rebounded further. However, the US currency ceded also ground against the euro. The Minutes of the September Fed meeting were somewhat dovish and this probably triggered further repositioning out of the US currency. EUR/USD closed the session at 1.1358 area (up from 1.1276 on Thursday). USD/JPY profited hardly from the risk-on trade. The pair holds in the lower

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