The surplus of dollar liquidity in the financial system is increasing – dollar interest rates on the interbank market in London have once again renewed their historical minimum. The three-month benchmark Libor rate is now only 0.123%, while a year earlier the figure was almost 3 times higher.

The Fed has not changed the discount rate for more than a year, and on the interbank market, rates continue to decline. How will this event affect the value of the dollar? An increase in the supply of any currency contributes to a decrease in the exchange rate, and against this background, the dollar sales are just a matter of time.

Trading recommendation: Buy 1.2160/1.2135 and take profit 1.2240.