The US dollar recorded its best quarterly performance in a year during the third quarter of 2023, rising by more than 3%.
The green card also achieved its 11th consecutive weekly gain, the longest series of gains in 9 years.
The dollar received a positive boost from expectations that the US economy will remain resilient in the face of interest rate hikes and high oil prices more than other economies.
The Federal Reserve warned at its September meeting that it may implement an additional interest rate hike this year, and may maintain those high levels for a longer period than expected.
Over the past week, economic reports showed encouraging data on inflation.
Technical analysis of the US dollar
We note that the dollar is close to reaching the resistance levels at 107.400/108.00, which represent rebound levels from which we expect the price to fall until it reaches the support area at 104.450 levels.
