Traders opt for US assets (07.12.2017)

Since the beginning of this trading week, gold is gradually declining. At the Asian session today, gold fell below $1,260.
Gold is trading at $1,257.70 per troy ounce. Last time the price sank to this level 4 months ago. The gradual decline means that market participants are optimistic about the investment attractiveness of the US assets. Traders are also encouraged by the progress in the adoption of the US tax reform.
As a result, the US dollar index shows an upward trend. Now the greenback is trading around 93.65. Experts note that the US treasury yield is also growing ahead of the Fed meeting.
Investors are sure that the Federal Reserve will raise the funds rate this month. However, some representatives of the Fed believe that it is too soon for a rate hike as inflation in the US is still below the target level. Meanwhile, many traders who have already given in to the bullish mood will not be able to stop buying the US currency soon. For example, the greenback/yen pair is likely to reach 113.00. Market participants are turning away from safe assets. However, now it is necessary to take into account risks of growing geopolitical tensions amid the statement of US President Donald Trump about the recognition of Jerusalem as the capital of Israel. This announcement can jeopardize the peaceful settlement in the Middle East. Now experts see the US dollar rally as a short-term trend. FX Analytics –
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