Forex and Cryptocurrency Forecast - Action Forex
The dollar has been rising since May 4. Last week, on May 26, the DXY Index reached 104.34. It hasn't been this high since mid-March 2023. What is driving the U.S. currency up and, consequently, pushing the EUR/USD pair down? According to analysts at Commerzbank, "the absolute calmness in the options market suggests that the driving force behind the EUR/USD exchange rate is monetary policy considerations rather than ongoing U.S. debt ceiling negotiations." It is worth noting that the probability of a rate hike at the June 14 FOMC (Federal Open Market Committee) meeting increased...
Source: actionforex.com