No important events are expected today.

The growth of yields of U.S. government bonds will have a favorable impact on the value of the dollar. The yield of ten-year securities is one step away from the 15-year maximum and the growth of the yield to a new extreme may provoke strong sell-offs of the main competitors of the dollar.

This week the U.S. Treasury Department and the Fed will reduce dollar liquidity by $38 billion, which will provide short-term support for the U.S. currency. Janet Yellen’s department will tomorrow hold a series of auctions on placement of long-term bonds, which money market funds will not be able to buy, so banks will have to buy this volume and spend free cache, which will reduce the liquidity surplus in the financial system.

Recommendations: Sell 1.0970/1.1010 and TP 1.0920.