US dollar roller coaster pattern makes currency trading difficult

US dollar roller coaster pattern makes currency trading difficult

Recent price actions suggest the greenback has reduced losses that previously occurred in the first trading session of the week after hitting multi-year lows against the British Pound and the Australian dollar.

Currency traders are sure to have a rough patch in 2021, with the world’s most powerful defying expectations by extending its predicted decline – at least for now. At the time of writing, the US dollar index used to measure the strength of the greenback against major world currencies like the euro, British pound sterling, Swedish krona and Japanese yen were trading at 90,400 index points.

However, recent price actions anticipate more pullbacks in the coming hours, although they had previously reversed two consecutive pullbacks as the greenback continues to drift …

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