A mixed background is being formed today. On the one hand, we can expect an increase in quotations against the background of the correlation of this currency pair with the American stock index S&P500. The US Federal Reserve has published fresh statistics on the change in assets on the balance sheet. Over the week, the figure rose by $92.2 billion due to the purchase of mortgage bonds. The growth rate for the week accelerated 4 times, which is positive for the stock market.

On the other hand, a surplus of dollar liquidity in the financial system can provoke a sell-off in this currency pair. Now it is difficult for me to understand which of the two factors will have a strong influence on the course of trading.

Trading recommendation: flat 108.40 – 109.20.