EURUSD – A tangible rise in dollar rates on LIBOR

10.12.2021

Important events are not expected today.

The high demand of bankers for the dollar continues to be evidenced by the Libor rate on the interbank market in London, which has broken through a ten-month peak.

Since the head of the ECB Christine Lagarde is not particularly inclined to increase the discount rate in Europe next year, and the Fed has stopped high temporary inflation and is preparing for a decrease in consumer prices, the rise in the value of the eurodollar to the nearest resistance lines can be used to open short deals.

The downtrend may well end by December 15, when the Fed will announce the outcome of its latest monetary policy meeting.

Recommendation: Sells 1.1350 / 1.1370 with TP 1.1285.