A mixed background is being formed today. On the one hand, we can expect a decline in quotations, inasmuch as the head of the Federal Reserve Jerome Powell announced again that the monetary regulator does not plan to change the monetary policy now in response to rising inflation.

Powell believes that it is necessary to continue buying assets and keep the rate at the current level of 0.12%, insofar as there are still many unemployed people in the labor market. The rapid rise in inflation, which has been taking place in the past six months, Powell still considers as a temporary phenomenon. On the other hand, the US Treasury will hold an auction today to place treasury bonds worth $64 billion, which may provide short-term support to the dollar.

Trading recommendation: flat 109.40 – 110.30.