US Dollar uptrend continues before the Fed meeting gets underway – by eren_fxstreet DollarIndex UnitedStates SEO Macroeconomics Technical Analysis
Once above 101.70, 102.00 could act as strong resistance. A daily close above this level could bring in additional buyers and open the door for an extended uptrend toward 102.50-102.60 .What is the US Dollar?
When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing . QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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