Forex
Dollar Index Soars as Euro Faces Potential Downward Pressure
The US Dollar Index has risen as expected and appears to be gaining further momentum. The Euro, on the other hand, may test the level of 1.1300.
The USD/JPY pair has surpassed 158 and is headed towards 160, while the EUR/JPY may rise to 182. In addition, the USD/INR has risen as expected and could reach 96.25-50 on a decisive break above 96.
The US Treasury and German Yields have both moved up faster than anticipated, which could lead to an extended increase in the coming days if the momentum continues. The 10Yr GoI has opened with a wide gap-up and closed strongly, indicating room for further growth before reaching its key resistance level.