The dollar has lost the confidence of investors
On Friday, February 12, the single European currency against the dollar in early trading moderately lower after a small strengthening of the previous day.
Yesterday, Thursday, the dollar has hardly began against the euro to its lowest level in more than 3 months on the background of the fact that the investment community to dissuade the ability and willingness of central banks led by the Fed reestablish stability and revive the economy.
The participants of currency trading is not learned nothing positive for the dollar from a two-day report of the head of the Federal Reserve Janet Yellen before the US Congress. Yellen made it clear that there is every reason for postponing further increase the key interest rate by the central bank.
Although the Fed refrained from a direct statement that spoke about the prospects of the economy and noted that the stock market decline and other adverse trends in the financial markets negatively impact on the economic situation in March, the Federal Open Market Committee will keep rates at the same level, it is a pessimistic tone .
It is worth noting that, according to Fed Watch from CME Group, the picture on the futures market implies zero probability of a key Fed rate at the March meeting.
We note that a sharp adjustment of market expectations for the period from December Fed rate increase is a valid reason for the strengthening of the euro against the dollar in the current quarter.
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