Title: Trading Ideas for Current Session: Dollar Consolidated, Euro Holds Position, GBP Approaching Resistance


Market participants are closely watching the actions of the Federal Reserve as the dollar index consolidates near 101.70. Treasury Secretary Janet Yellen has expressed concerns over access to credit in the wake of recent bank bankruptcies, and the threat of interest rate hikes is putting pressure on the economy. Meanwhile, the euro holds its position near 1.0950, with the focus on the prospects for the economy and further actions of the regulator. The GBP/USD pair is approaching the 1.24 resistance as the market is driven by external factors. The much-anticipated report on business optimism in Germany may provide additional support to the European currency. Officials may decide not to pursue a tightening cycle if the labor market remains strong and inflation is high. Overall, these are the main trading ideas for the current session.