USD volatility should lighten ahead of FOMC: DXY, GBP/USD, NZD/USD

The US Dollar had a good deal of volatility earlier in the session, with the DXY opening near 90.39 and moving to a high of 90.61, only to reverse sharply to a current low of 90.11. Stocks opened the day and pushed higher, which resulted in the move lower in DXY (stocks and the US Dollar are inversely related). However, tomorrow is the first FOMC meeting of 2021. DXY volatility should begin to slow ahead of the meeting as traders square up positions and reduce exposure before the potential volatile event. Day in and day out, traders look for standout volatility in currency pairs for which they can profit. Since … (full story)

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