Dollar Hits 7-Month Low Preceding Powell's Announcement
Tuesday, 20 August 2024, 03:15
Dollar's Downward Trend
The dollar has recently hit a 7-month low, sliding 0.33% to 10.27 against the U.S. dollar. This drop comes ahead of key communications from Fed Chairman Jerome Powell.
Swedish Crown Volatility
In addition, the Swedish crown is experiencing significant fluctuations following a recent interest rate cut by the Riksbank, leading to heightened volatility.
Investor Reactions
- Barclays noted that retail investors halved their net short U.S. dollar/yen positions in July.
- This shift signals increased caution within the market.
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This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.