US Dollar woes compounded – The dollar slumped again today following yesterday’s ECB announcement and press conference, which saw EURUSD rally to near two-year highs of 1.1658. While ECB policy has reinvigorated the euro’s rally, a run of soft data out of the U.S. and concerns about Trump’s agenda have been taking a toll on the dollar. A NY Times article quoted Trump as critical of the AG, Deputy AG, former FBI Director, acting FBI Director and Special Counsel Mueller. He was critical of conflicts of interest in the Mueller camp as well, which has reportedly begun investigating some family members. Stocks have dipped into the red, yields are back at lows and the dollar index is 0.65% lower near 94.14, while today is near 93.80. Meanwhile yen is getting stronger with USDJPY moving below 112.00 and 200 DMA.
Click here to access the HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! The next webinar will start in:
Senior Market Analyst
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.