The Strengthening of the US Dollar – Overview for August 17, 2023
<div><img width="360" height="360" src="https://blog.roboforex.com/wp-content/uploads/2023/06/EURUSD_3-360×360.jpg" class="attachment-thumbnail size-thumbnail wp-post-image" alt="EUR/USD analysis today" decoding="async" loading="lazy" style="margin-bottom: 15px;" /></div><p><a href="https://roboforex.com/beginners/info/charts/forex/eurusd/" data-internallinksmanager029f6b8e52c="35" title="EUR/USD">EUR/USD</a> Continues Its Expected Downward Trajectory.</p>
<p>The predominant <a href="https://blog.roboforex.com/blog/2020/06/19/how-to-choose-a-currency-pair-for-trading-in-forex/" data-internallinksmanager029f6b8e52c="142" title="Currency Pair">currency pair</a> displayed a noticeable decline on Thursday. The current exchange rate of EUR/USD stands at 1.0866.</p>
<p>These levels mark a six-week low. The US dollar is experiencing a valid upsurge due to the Federal Reserve's recent meeting minutes, which were released the day before. The minutes revealed the Federal Reserve's acknowledgment of the potential for further rate hikes.</p>
<p>This insight suggests that the Federal Reserve is mentally prepared to persist with its strategy of tightening monetary policy, spurred by the substantial risk of inflationary growth.</p>
<p>As for the stance of the European Central Bank (ECB) regarding rates, market opinions are divided. The most recent reported data indicates a lack of positive <a title="<div class="wpg-tooltip-content"><p>Momentum is an indicator of the speed and direction of price change over a specific time frame.</p></div>" href="https://blog.roboforex.com/glossary-terms/momentum/">momentum</a> in the Eurozone's core prices for July. Isolated economic reports, notably from Germany, indicate subdued prospects. These factors underscore the <a title="<div class="wpg-tooltip-content"><p>Divergence is a stock exchange term for the disagreement in the movement of indicator values and price charts. It warns traders of a slowdown or trend reversal.</p></div>" href="https://blog.roboforex.com/glossary-terms/divergence/">divergence</a> in opinions: Will the ECB promptly raise rates, or will it abstain from proactive measures? The ECB itself has not provided explicit indications. The next ECB meeting is scheduled for September.</p>
<p>Thus, the focal point of interest rates is once again at the forefront. The US dollar thrives amid such fluctuations and generally benefits from these situations.</p>
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