Currency market review October 24, 2019

What do we see in the foreign exchange market?

Dollar 🇺🇸 is going through hard times. The economy is gradually overheating, the Fed plans to cut rates, and the trade war arrangements only increase pressure on the currency.

A cheap dollar at the moment is not bad and even good for the USA, however, speculators and traders should take a closer look. A further depreciation of the dollar is expected.

There are, of course, exceptions. For example, the dollar looks pretty good against the Japanese yen, all because Japan is an exporter country and it is beneficial for it to artificially depreciate the national currency.

The single European 🇪🇺 currency, like the pound, received support, due to a possible agreement on Brexit.

Together with the general weakness of the US dollar, this has given a positive and should increase the demand for the euro.

After a slight downward correction, the European promises to resume growth. At least until the end of October there is no reason for the situation to change dramatically.

Brexit may be soft. This fact added to the positive national currency of the United Kingdom.

The general mood for the pound 🇬🇧 is upward, but not without a slight discharge in the form of a short-term downward correction before the further growth of quotations.