US Dollar surges due to the Fed

Note: This section contains information in English only.
Source: Dukascopy Bank SA


At 17:00 GMT on Thursday, the head of the US Federal Reserve Jerome Powell started a speech. During the speech he revealed that the current US monetary stimulus would remain intact. However, as the markets appeared to expect additional stimulus, the value of the US Dollar surged.

It resulted in two large red hourly EUR/USD candles, which passed all support levels. By the middle of Friday's trading, the decline had reached below the 1.1920 mark, as the rate lost 1.06% or 128 pips.

In the meantime, all assets that are traded in US Dollars declined.
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