A mixed background is being formed today. On the one hand, we can expect an increase in quotations, inasmuch as the S&P500 index has renewed its historical maximum. Moreover, this currency pair is historically correlated with the stock market. The surplus of dollar liquidity in the financial system has a positive influence on the capitalization of the stock market.

On the other hand, a decline in US 10-year government bond yields can trigger a sell-off in the dollar, insofar as investors are not looking forward to a change in Fed monetary policy and rising inflation is pushing up the negative real interest rate in the US.

Trading recommendation: flat 109.00 – 109.75.