Alpari - Analytics


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Risk aversion has put pressure on the single currency

Most major currencies are trading in negative territory against the US dollar. Only the yen is in the black, which means that the strengthening of the dollar is connected with risk aversion, which caused the decline of the Turkish lira. It had a negative impact on the stock indices and put pressure on risky assets. The New Zealand dollar is losing 0.91%, the euro - 0.36%.

Traders and investors are turning to the US dollar and the Japanese yen against the weakening of the Turkish lira. At the present time, it has fallen against the US dollar by 5.17%, to 6.78 USD. The euro fell from 1.1718 to 1.1661. Support is at 1.1658. If it does not stand, then sellers will open the path to 1.1600. The technical factor (breakdown of trend), based on geopolitical events, is a strong bearish signal.

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