FOREX-Dollar left defenceless by dovish Fed, euro muscles higher ...Middle East

Devdiscourse - Opinion
FOREX-Dollar left defenceless by dovish Fed, euro muscles higher
source : Devdiscourse ( Middle East ) () 26
The dollar was on the defensive near nine-week lows on Thursday as a decidedly dovish outlook from the U.S. Federal Reserve gave a green light for the global reflation trade. The setback allowed the euro to crack major trendline resistance at $1.2114 and power up to the highest since late February at $1.2135. The break opened the way to bull targets at $1.2196 and $1.2242.

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