The decline in the US dollar on the world market continues.

The US currency remains under strong pressure as the market is growing more and more convinced that the current economic slowdown and inflation are not a temporary phenomenon that may be delayed at least until the end of this year.

While the market enthusiastically sells the dollar, let us pay attention to how serious the prospects for the growth of the euro are.

The Japanese yen, in anticipation of the Bank of Japan meeting, is growing against the US dollar.

In summary, we note that if the results of the Bank of Japan and the ECB gives unclear signals about the likely changes in monetary exchange rates, then the euro and the yen may come under pressure.

Forecast of the day:

The EUR / USD currency pair is trading above the level of 1.1485.

The USD / JPY currency pair is trading above the level of 112.00.