Mon. Nov 28th, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Dollar gains as traders trim short bets

1 min read
fx currencies

The dollar clung to overnight gains on Thursday, as investors trimmed bets against the greenback and sold the euro on concerns that the European Central Bank was worried about its rise.

The bounce has lifted the greenback about 1% above the 28-month low it hit against a basket of currencies on Tuesday and brought its first back-to-back daily gains since June.

Few analysts expect it to hold for too long but it was steady in morning trade, inching about 0.1% firmer on the Australian dollar, kiwi, euro and pound as investors position themselves ahead of U.S. jobs data due on Friday.
The drop in the euro extended its retreat from the $1.20 mark, which had begun on Tuesday after the ECB’s chief economist Philip Lane said the euro-dollar rate “does matter” for monetary policy – suggesting the bank might do something about it.
The value of euro longs stood at a record high last week.

The euro was last at $1.1836, having fallen half a percent overnight, and it made a fresh three-month low of 88.71 pence. The pound slipped to $1.3338, but was above an overnight trough of $1.3284.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.