A mixed background is being formed today. On the one hand, Libor dollar rates are at historical minimum now and this event is capable of causing a sale in the American currency. The growth rate of the money supply in the USA exceeds 27% and the banking system is “filled to capacity with dollars”.

On the other hand, the American stock market renewed its all-time maximum yesterday, which may support this currency pair insofar as it is historically correlated with the broad market index S&P500. Investors are actively buying securities in expectation of new stimulus from the White House, inasmuch as the US Senate adopted a budget plan that will approve a package of measures worth $1.9 trillion over the next four weeks.

Investment idea: flat 104.30-105.30.