The Federal Reserve has no plans to change its monetary policy. In recent weeks, many investors have been worried about a possible rising inflation in the medium term, which will force the monetary authorities to reduce the QE program. However, the head of the Fed D. Powell dispelled these fears. “We are much more worried about the fact that we will not be able to fully recover than about the possibility of higher inflation,” said Powell.

This is a negative signal for the dollar insofar as we face a long period of negative real interest rates in the United States.

Investment idea: Sell 104.45/104.60 and take profit 103.89.