Dollar setup after Powell: DXY, EUR/USD, GBP/USD and USD/JPY
Channel: CMC Markets plc
Date: 2023-03-08

Fed chair Jay Powell’s comments yesterday saw the US dollar strengthen. The dollar index [DXY], which measures the greenback against six other leading currencies, ended Tuesday up 1.1%. However, amid signs that the dollar may be overbought, FX analyst Ian Coleman looks at a potential sustained move to the upside for the EUR/USD. 

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