17 June 2019 : All eyes will be on the Federal Reserve’s policy announcement on Wednesday, where any hint of waning patience from policymakers could undermine the Greenback’s recent gains. It remains to be seen which part of the economic equation will hold most of the Fed’s attention – confidence that the US economy’s record-breaking expansion has more room to run, or the growing downside risks stemming from President Donald Trump’s trade conflicts with global economies. Should markets detect the Fed’s bias towards an “insurance” rate cut, the DXY could retrace towards its 100-day moving average of 97.0, with stronger support potentially coming at its 200-day moving average of 96.59.

Reporting for EasyKobo on Monday , 17 June 2019 in Lagos, Nigeria

Source: Lukman Otunuga, FXTM Research Analyst