We saw continued misery for USD bulls this week as the Greenback started and stayed under pressure from the get go. Expectations that the Fed would announce changes to monetary policy were the likely driver, which ultimately came to pass to send the dollar even lower.
Broad risk sentiment was also a likely contributor to the dollar’s weakness as traders had positive COVID-19 and geopolitical related headlines to feed their risk appetite.
Every day, I will present to you my findings and daily commentaries on what recently happened in the economic arena, possible shifts in sentiment, economic events to watch out for, and their effects on currencies.
When I was 5 years old, my mother always told me that happiness was the key to life. When I went to school, they asked me what I wanted to be when I grew up. I wrote down “happy”. They told me I didn’t understand the assignment, and I told them they didn’t understand life.John Lennon