The US Federal Reserve’s protocol, which was published the day before, indicated that the US economy is demonstrating rapid growth after the “coronacrisis”, however, the Fed does not plan to raise the interest rate until 2023, even though inflation at this time will be slightly above the target level of 2%.

Therefore, the United States will continue to maintain a soft monetary policy for a long time, which will have a favorable influence on the American stock market and this currency pair, inasmuch as assets are historically correlated with each other. On the eve, the S&P500 stock index renewed its historical maximum again and is now aimed at testing the psychological level of 4400 points.

Trading recommendation: Buy 110.00/109.75 and take profit 110.45.