We open Buy positions for two reasons. Firstly, the United States disappointed investors with weak labor market statistics for August. The Non-Farm Employment indicator came out substantially below the median of the forecasts. The withdrawal of stimulus measures in the US will probably be postponed to a later date, which is positive for the dollar’s competitors.

In my opinion, the FRS will announce the reduction of QE only at the meeting on November 3. Secondly, there is still a surplus of dollar liquidity on the interbank lending market in London. The benchmark three-month LIBOR rate has renewed its historical minimum again, indicating a surplus of dollars in the financial system.

Trading recommendation: Buy 1.3825/1.3800 and take profit 1.3890.