Have you seen the volatility of the dollar these past few days? Well of course! We all noticed it? but what is happening to the greenback?

Well, several things. For starters, monetary testimony of Jerome Powell – head of the Federal Reserve od the United States was a little different this year. The government apparently decided that most traders have no understanding of the report due to the fact that usually only to read it one needed a whole PhD degree. But this year Powell decided to speak an understandable language.

Of course, good intentions do not always pay off. After the speech was delivered we only saw more down movement for the greenback. Volatility increased and that was felt all around the world. and today, when another speech and another portion of the testimony is due, traders are even more panicked over it, as today’s part is a not a scripted speech, but Q&A portion of the testimony. Different questions and answers have incredible influence on the currency that is spoken about, so we need to watch out today.

And of course we are stock watching the first day of the second USA-North America summit. The whole world is watch the denuclearization negotiations as the whole world depends on its success.

So, that adds up to the greenback lacking both support from its own government and attention from international traders. all that is left for us is to wait for the second testimony and use our trading signals in order to know exactly what to do in the situation as volatile as today.