euro trading strategy after strong USD increase

According to Reuters, the US Dollar increased slightly against other currencies after the release of data showing that the US economy grew at the fastest pace in nearly two years in the third quarter. This was once again unexpected. despite dire warnings of an economic recession that have existed since 2022.

According to estimated statistics on GDP growth in the third quarter, the Department of Economic Analysis of the Ministry of Commerce said that gross domestic product increased at a rate of 4.9% compared to the previous quarter, which is considered the fastest rate since from the fourth quarter of 2021.

The dollar index, which measures its strength, has been at a high of over 106 points for nearly three weeks now at the start of each trading session.