The protocol of the last Fed meeting will be published tonight, which may cause a short-term weakening of the dollar. In my opinion, the protocol will highlight the fact that unemployment in the US is still high and it is too early to talk about scaling down stimulus measures. The spread of the “delta” strain of coronavirus carries certain risks for the American economy and it is too early to say that the situation with COVID-19 is under control.

On the interbank market in the United States there is an increased volume of reverse repo transactions again, which indicates that excess liquidity remains in the banking system. The last four trading days the volume of these transactions has exceeded the $1 trillion mark. The market will not be able to ignore this negative factor for the dollar.

Trading recommendation: Buy 1.3720/1.3700 and take profit 1.3800.