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Dollar weakness returns, the greenback lost ground against almost all major currencies last week as traders await the Fed’s moves on monetary policy. The Eur / Usd exchange rate rose above 1.17, also favored by the internal disagreements within the ECB board on the issue of expanding monetary stimuli.
The pound, on the other hand, suffered from Brexit fears. The talks last week did not lead to new results, although there is a certain optimism among operators.
The exchange touched the 0.9150 level and then dropped to 0.90.
Among the emerging currencies sector, the appreciation of those from Eastern Europe such as the Hungarian forint and the Polish zloty should be noted. In Poland, there is an increase in inflation which would benefit those on the board of the central bank who want to raise interest rates next year.
Among the worst currencies of the week, we find the Brazilian real and as a fixed presence the Turkish lira.
In Turkey, the government has reduced the tax on deposits to try to limit its depreciation, but without obvious results. The ruble also fell, which was affected by the drop in oil prices.
Eur / Usd
A week up for the main exchange rate in the world, after hitting 1.16, it reached 1.17.
However, indicators indicate that downward pressures could return in the short term.
On the downside, the reference supports are placed at 1.1603 followed by that at 1.1429.
On the upside, the first resistance is placed at 1.1780
Eur / gbp
Last week, following the fears for the Brexit, the exchange rate began to appreciate again, reaching 0.91 and then falling to 0.9047.
Short-term oscillators signal a strong oversold, this could mean a return of bullish strength.
The first resistance to be monitored on the upside is placed at 0.9148.
Eur / Jpy
Positive week for the exchange with the Japanese currency. In the wake of the bullish movement, the exchange rate moved above 124.07.
At the moment the oscillators give conflicting information.
On the upside, the first resistance is placed at 125.77, while on the downside, the first support is at 122.32.