Greenback declines on Trump’s remarks on Fed

Greenback declines on Trump’s remarks on Fed

On Friday, the evergreen buck slumped after Donald Trump had the Federal Reserve heavily criticized for lifting interest rates, although it was still on target for a second winning week.

Estimating the greenback’s value versus a bunch of key currencies, the USD index slumped by 0.15% being worth 94.84.

Notwithstanding the sag, the evergreen buck happened to be on target for a second winning week, and it has soared over 5% for the last three months on hopes that interest rates are going to ascend.

Trump told that he doesn’t like how the main American financial institution is pursuing its monetary policy now. The Federal Reserve had rates raised twice in 2018, and it’s expected to have them lifted one more time before the end of 2018.

US leader told that he wasn’t thrilled about it at all. He told that the major US bank is used to raising rates each time the American economy goes up. However, this approach makes US products less competitive. Nevertheless, Trumps allows the Fed to do what the bank is believed to be good at.   

At the same time, trade tensions resumed, with the EU anticipated to strike back against America with more duties after the United States slapped duties on aluminum and steel in June. Duties on $3.8 billion of American products have already been slapped by the European bloc.

The greenback dived versus the safe-haven Japanese yen. The currency pair USD/JPY dipped by 0.06% trading at 112.39. In times of uncertainty, market participants tend to purchase Japan’s currency because it’s considered to be a safe-haven asset, which would come in handy when facing hard times.

The UK currency managed to rally. The currency pair GBP/USD gained 0.08% being worth 1.3024. The currency pair EUR/USD added 0.11% trading at 1.1656.

 

Similar

Will the CPI Crash the USD?
Will the CPI Crash the USD?

 The most impactful releases of this week will fill the market with volatility and sharp movements. Be ready to take action!

Latest news

The Yen Sets New Lows
The Yen Sets New Lows

The Japanese yen fell to its lowest level against the US dollar in 33 years. Read the full report to learn the next target for USDJPY!

BlackRock CEO Supports The USD
BlackRock CEO Supports The USD

BlackRock CEO forecasts the Fed may have to raise rates further. The US dollar index (DXY) gains 130 points today. Read the full report to get more fresh news and technical analysis!

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera