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Dovish Fed & Trump hit USD – EUR, JPY and Oil Analysis

Market Analysis

Dovish Fed & Trump hit USD : EUR, JPY and Oil Analysis – The disbanding of the Trump business councils, along with dovish tilting FOMC minutes later took the EURUSD to 1.1776 highs. The Fed voiced concerns about low inflation, and will be split on the timing of rate hikes going forward. The yen has seen its safe haven bid revived following the collapse of Trump’s business councils. The Japanese currency is showing a 0.3% bid going into the London interbank open, although the currency is off its highs. Gold futures rallied to session highs over $1,283, as crude oil slumped to three-week lows of $46.91, presumably on the polititcal news.

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Stuart Cowell

Senior Market Analyst

HotForex

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