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!
Greenback reaches fresh 6-month minimums as Trump woes weigh
On Wednesday, the greenback touched fresh six-month minimums versus a basket of the other crucial currencies because mounting political turmoil in America along with dismal economic data weighed.
The US dollar index, which estimates the US dollar’s value against a trade-weighted basket of six crucial currencies, lost 0.18%, showing 97.92, having touched an overnight minimum of 97.76, the weakest value since November 9.
The index concluded last trading session down 0.81%.
The US dollar found itself under renewed selling pressure, reacting to news that Donald Trump urged currently fired FBI Director James Comey in February to stop an investigation into ex-National Security Adviser Michael Flynn’s relationships with Russia.
Against the Japanese yen, the greenback sagged to one-and-a-half week minimums, with USD/JPY sliding 0.63% to 112.39.
The currency pair EUR/USD showed 1.1096, having ascended to an overnight peak of 1.1122, the most impressive outcome since November 9.
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