The VIX fear index is near the annual minimum, which is positive for the US stock market and this currency pair, inasmuch as assets are historically correlated with each other. The S&P500 is one step away from historic minimums and could set a new record today or tomorrow.

On the other hand, the US Treasury today will increase the surplus of dollar liquidity through the redemption of treasury bonds in the amount of $24 billion, which may cause a sell-off in the American currency. Now it is difficult to understand which of the two factors will have a decisive influence on the course of trading.

Trading recommendation: flat 108.70 – 109.50.