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The U.S. dollar has weakened across the board in recent weeks in response to a dovish repricing of the Fed's monetary policy outlook

The U.S. dollar has weakened across the board in recent weeks in response to a dovish repricing of the Fed's monetary policy outlook| FXMAG.COM
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  1. Meanwhile, EUR/USD has also broken out and may be on its way to recapture its 2023 highs in short order

    The US dollar has been attracting traders attention recently. Diego Colman from DailyFX shares his view on the pairs with US dollar.

    the u s dollar has weakened across the board in recent weeks in response to a dovish repricing of the fed s monetary policy outlook grafika numer 1the u s dollar has weakened across the board in recent weeks in response to a dovish repricing of the fed s monetary policy outlook grafika numer 1

    Diego Colman, Contributing Strategist for DailyFX comments: The U.S. dollar has weakened across the board in recent weeks in response to a dovish repricing of the Fed's monetary policy outlook following the U.S. banking sector turmoil.

    Meanwhile, EUR/USD has also broken out and may be on its way to recapture its 2023 highs in short order

    This situation has boosted both the euro and British pound, pushing both currencies to multi-month highs. In the case of GBP/USD, the pair has cleared technical resistance at 1.2450, an event that could pave the way for a rally towards 1.2680. Meanwhile, EUR/USD has also broken out and may be on its way to recapture its 2023 highs in short order. Key technical levels for top FX pairs can be found at DailyFX's trading tools page.

    Read next: Orbex analyst on the EU inflation: This leads me to believe that the lower-than-expected CPI figure is heavily attributed to the decline in energy costs| FXMAG.COM


    Diego Colman

    Diego Colman

    Diego Colman is Contributing Strategist for DailyFX, the partner site of IG offering leading forex news and analysis.

    With a BA in Finance from Manhattanville College, Diego has more than 10 years of experience trading forex and eight years investing in equities. He has worked as a Latin American economist, covering Mexico, Argentina, Chile, Colombia, and Brazil. Diego is a technical and fundamental analyst, preferring medium- and long-term strategies based on established trends.

    Follow the author on:

    Twitter | LinkedIn


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