The dollar moved lower against the euro and the yen on Tuesday, as uncertainty over the timing of a rate hike by the Federal Reserve mounted ahead of the central bank’s policy meeting scheduled next week. EUR/USD gained 0.42% to trade at 1.1218, the highest level since September 3. Sentiment on the greenback remained vulnerable after Friday’s U.S. jobs report failed to provide much clarity on when the Fed will decide to raise short term interest rates.EUR/USD gained 0.42% to trade at 1.1218, the highest level since September 3. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.38% at 95.77, the lowest level since September 4. Earlier Tuesday, data showed that Japan’s second quarter gross domestic product fell 0.3%, less than the 0.4% expected drop.
RECOMMENDATION :
BUY GBP/USD ABOVE 1.5445 TARGET 1.5465 1.5495 SL 1.5415
SELL GBP/USD BELOW 1.5370 TARGET 1.5350 1.5320 SL 1.5400
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