13 March 2020 : King Dollar stood tall against every single G10 currency on Thursday, as investors sprinted towards the world’s most liquid currency amid the market meltdown.

A sense of disappointment with the government’s response to the rising infections in the United States is fostering caution and unease. The jump in risk aversion is boosting appetite for the Dollar, despite expectations around the Fed announcing more interest rate cuts, with around 100bp now priced in over the next week.

Focusing on the technical picture, the Dollar Index has staged an incredible rebound on the daily charts with prices trading around 97.50, as of writing. A solid daily close above this level could re-open the doors back towards 98.30. However, should 97.50 prove to be reliable resistance, prices could sink back towards 97.00.

Reporting for EasyKobo on Friday , 13 March 2020 in Lagos, Nigeria

Source : Lukman Otunuga, Senior Research Analyst at FXTM