Quiet Trading?
The U.S. dollar rally continued as the market has moved the timing of the first rate hike to June 2022, pricing in an earlier end to QE. The FOMC minutes were hawkish and thus confirmed the Fed’s openness to quicker stimulus reduction.
Today is the U.S. Thanksgiving holiday and trading volumes might be thin.
EUR/USD: As long as the pair remains below 1.1250, we favor the downtrend.
GBP/USD: As long as the cable trades below 1.3420, we focus on a lower target at around 1.3280.
Happy Thanksgiving!
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