Friday, January 29, 2016

The Dollar rallies

The Dollar rallied for today after the Bank of Japan took its interest rate into negative territory and the fundamental data out of the United States came out in line with what was expected. The Gross Domestic Product reading has come out practically in line with what investors and trades were waiting for. This has caused the Dollar to strengthen again. The Euro, the Pound, and the Yen all dropped versus the Dollar as risk appetite comes into the markets. The EUR/USD could find some support at the 1.0800 or the 1.0700 level, but the pair remains consolidated, trading in a range.


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