Range Bound Dollar persists

In the currency market, the dollar index, which measures the greenback against a basket of currencies, rose to 101.14 at 9:40 a.m. HK/SIN, up from an earlier low of 100.91.

“Trader frustration is building as narrow trading ranges persist because contrasting market drivers confuse and the Trump headline effect is waning,” said Stephen Innes, a senior trader at OANDA.

Innes added that there were still enough moving parts to keep things interesting in the currency market, with “European risks smoldering and Fed minutes on tap as Fed watch is creeping back into the headlines.”

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes