The negative signal for the dollar | 01 June 2020

01 June 2020, GBP/USD

The negative signal for the dollar

GBPUSD trading plan:

The FOMS has said it would purchase up to $250 billion in outstanding corporate debt and up to $500 billion in newly issued debt, but the mere announcement of the lending programs helped sharply reduce borrowing costs for an array of businesses, meaning the facilities may see less use than initially anticipated if markets don't deteriorate again. The Fed's lending programs aren't fully operational and have so far only conducted ETF purchases. Federal Reserve Chairman Jerome Powell said disclosing the Fed's purchases would be an important way to demonstrate how it was meeting those goals and to avoid misinformation over where the central bank's loans go. This is a negative signal for the dollar!

Trading recommendation: Buy 1.2370 and take profit 1.2410.

David Johnson
Analyst of «FreshForex» company
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