Usd overnight exchange rate hints a big turn around in Us dollar futures as pound tumbles

we have seen a big downside squeeze in pound exchange rate against us dollar and in result usd overnight deposit rate squeezed to +135 bps to 190bps.

 This could be just a start of us dollar dominance in coming weeks and months as speculation on rate hikes has come to extreme and it could just be around the corner and banks have started to buy us dollar against all major currencies and targeting the weaker one of them all in the recent time and if pound keep managing to struggle against us dollar then we can soon see euro and other major currencies start following pound.

Euro dollar has been in big consolidation mide since the mid 2022 and we have not seen any big rallies that follow any spike on weekly and daily time frame but we do need to watch crucial areas as bulls can play a trick for stop hunting and any rally that fails above the recent high or any big squeeze that fails within a session or two can be a very good area to enter.

Keep watching the blog for updates and I would post chart very soon of Us dollar and euro dollar with entry exit and targets.