USD Reaches New Long-term High Against Euro, Japanese Yen, Pounds!

US Dollars

The S&P 500 Index, down by over 1% in yesterday’s trading, has caused the stock market to fall everywhere. However, US Dollar has continued to advance, forming a solid trend in the Forex market. It stands near parity with the Euro in recent hours in the EUR/USD currency pair, setting the USD/JPY pair to a new long-term high and reducing the GBP/USD pair to a long-term low. This move has gained momentum, and experts believe it is an excellent opportunity to trade the US Dollar. It seems that the US Dollars has found the green, and there is no pulling back though there is the anxiety that this movement might affect the US Stock market.

Euro and British pounds are becoming weak. This weakness emanates from fears that Russia will cut off key energy exports to the European Union as they are currently at par.

The Markets anticipate Wednesday’s US CPI data release, which might be the market’s force for the week.

Bitcoin and Ethereum keep falling with no assurance of rising. It fell yesterday for the fourth consecutive day. However, these cryptocurrencies are still well off their recent lows.

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