Today, the US Treasury will hold an auction for the placement of treasury bonds in the amount of $60 billion, which will provide short-term support to the American currency. The US Treasury holds large-scale auctions for the placement of bonds every other day, inasmuch as it has very little funds, and budget expenditures must be paid. Last week congress allowed the Treasury to borrow $480 by December 3, and against this background, periodically substantial auctions should be expected.

I do not expect a strong strengthening of the American currency, inasmuch as the financial system still maintains a significant surplus of dollar liquidity, and against this background, the Finance Ministry’s auctions will not provide substantial support to the dollar. So far, we can only talk about a short-term trend for the strengthening of the American currency.

Trading recommendation: sell 1.1640/1.1670 and take profit 1.1600.