Saturday, January 13, 2018

USD Is Losing Strength

During the past week the US dollar lost its strength against all main currencies.

During the past seven days alone EUR/USD rallied with a little over 300 pips, from 1.19154 to 1.22179.

USD/JPY fell from от 113.386 to 110.911.

GBP/USD ralllied from 1.34576 to 1.37441.

I think USD/CHF will probably continue depreciating, unless yet another interference by the Swiss Bank prevents that.

The weakening of the US dollar made investors look for a refuge in Gold and it rallied from 1308.10 to 1339.31.

The USD also continued depreciating compared to the RUB.

I think this depreciation across the various USD currency pairs will continue next week as that is the perspective of the technical picture drawn by the charts.