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By Associated FX Analysis Team

Kantox currency update: Trump talks down the dollar

Published April 13, 2017

Donald Trump

The greenback accelerated its decline on Wednesday weighed by President Trump’s comments in the Wall Street Journal maintaining that the “dollar is too strong” and that he would prefer interest rates to remain low.

Trump’s comments have added negative pressure to the dollar, which, in the absence of relevant macroeconomic data, has been trading lower amid investors concerns about the growing tensions in the Korean Peninsula.

EUR/USD one-week high at 1.0650. The euro accelerated its recovery from last week lows at 1.0570, to reach one-week highs at 1.0675. At London market opening times, the EUR/USD is trading at 1.0660.

GBP/USD: extends recovery beyond 1.2500. The pound advanced on Tuesday for the third consecutive day to reach 1.2550 area, approaching two-month high at 1.2615. At London market opening times, the GBP/USD is trading at 1.2550.

USD/JPY: dives to 5-month lows below 109.00. The dollar extended its sell-off against the yen after Trump’s comments, to hit prices below 109.00 for the first time since last November. At London market opening times, the USD/JPY is trading at 109.20.

In the Calendar Today

 Today we will have a thin calendar. The only event worth noting will be the U.S. weekly jobless claims.

 12:30 GMT       U.S: Initial Jobless Claims (Apr 7)
Prev: 234K        Cons: 245K       

         


 

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