The world’s foreign exchange (Forex) market, a daily trading hub of over $6.6 trillion, has been witnessing colossal shifts amid global economic developments. This article will explore the recent movements in key currencies and offer potential future projections, serving as a comprehensive guide for savvy traders and investors.
The US Dollar (USD), the world’s foremost reserve currency, has been exhibiting a bullish trend recently due to the rising bond yields and the anticipation of scaling back of the Federal Reserve’s monetary stimulus. This uptick in the USD index, which tracks the greenback against a basket of six other major currencies, underscores the Dollar’s strength in the current climate.
The Euro (EUR), on the flip side, faces downward pressure due to the European Central Bank’s dovish stance and slower vaccine rollouts in the Eurozone. While the Eurozone’s economic recovery lags, the EUR/USD
