The dollar was down on Tuesday morning in Asia, with the U.S. Federal Reserve’s new policy framework announced on August 28 fueling bets that rates in the U.S. will continue to remain low compared to those in other countries, and driving the greenback down to lows not seen in several years.
Fed Vice Chair Richard Clarida on Monday expanded on Fed Chairman Jerome Powell’s comments indicating shift in focus to average inflation and higher employment. The framework has triggered a retreat from the dollar, with the Fed now given more scope to keep benchmark rates lower for longer..
US Stocks End Mostly Lower
The US stocks were mostly lower on Monday, 31 August 2020, with the Dow and S&P 500 finished in the red as investors elected to book profit following stellar gains in month, worries about U.S.-China tensions and reports showing a surge in new coronavirus cases in several states across America. The NASDAQ maintained a positive bias throughout the session and posted another record closing high.
TREND : BULLISH
Time : 01/09/2020
Pivot : 1.1957
Technical View : LONG ABOVE 1.1977
Target : 1.1997, 1.2045, 1.2075, 1.2148
Technical View : SHORT BELOW 1.1937
Target : 1.1917, 1.1902, 1.1839, 1.1799