U.S. Dollar Index is losing ground as traders stay focused on recent comments from Fed Chair Powell, who signaled that he was concerned about the situation in the labor market.
USD/CAD is mostly flat despite the continuation of the strong rally in precious metals markets. Other commodity-related currencies are moving higher in today’s trading session.
A successful test of the support at 1.4000 – 1.4015 will push USD/CAD towards the next support level, which is located in the 1.3910 – 1.3925 range.
