Double-whammy for the USD

Market Insight: DXY EUR GBP AUD & CROSSES

The known fact has now been in effect since the divided congress did not come up with a favorable resolution. Sad to say that this occurs when the US economy needed as much assistance from these political figures and not play hardball over negotiations that a negative & direct impact would be at the expense of every American and a global ripple effect in the making.

Thus far, the much anticipated case of a government shutdown has forced the opening USD in Asia to move lower. The price gaps accross the forex market have led the EUropean majors to rally to their respective best performances contrary to what most retail traders expected. However, a slight recovery from their daily opening price gaps have reflected some short-covering for the Euro and Pound traders in particular.

Double-whammy for the USD