A mixed background is being formed today. On the one hand, on the interbank lending market in London, we do not see an increase in dollar interest rates, which indicates that there is no increased demand for the American currency. In New York, the volume of reverse repo transactions in the interbank market is still in excess of $1.4 trillion, which also indicates a surplus of dollars in the financial system. In such a period, we should expect a depreciation of the dollar.

On the other hand, the ECB is building up its balance sheet, and doing it actively, which prevents the European currency from reaching its full potential. It seems that the euro has chances for the growth of quotations, but the growth of the money supply on the part of the EC is “killjoy”.

Trading recommendation: flat 1.1588 – 1.1675.