Intraday Strategies for Beginner Traders on October 8
Intraday Strategies for Beginner Traders on October 8
The U.S. dollar continues to strengthen
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The U.S. dollar continues to strengthen against risk-sensitive assets.Yesterday's comments from Federal Reserve officials that lower interest rates might lead to higher inflation supported the U.S. dollar. Traders, concerned about the likelihood of tighter U.S. monetary policy, quickly rotated out of the euro and other risky assets and into the safer dollar.Additional pressure on the euro came from an ECB official's remarks, suggesting that the eurozone could face a sharp decline in its inflation target. The market reacted instantly to
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