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 slumps in Asia on policy concerns
On Wednesday, the evergreen buck inched down in Asia and the Japanese yen soared on safe-haven demand because President Donald Trump dared to sack FBI Director James Comeyover, reportedly unable to handle sensitive investigations. It lifted worries of a fallout for Trump’s economic policy objectives as well as ability to draw on public support.
The currency pair USD/JPY declined 0.16%, hitting 113.82, while AUD/USD hit 0.7356, soaring 0.19% after on Tuesday the Australian budget levied a tax on financial institutions to assist the government in meeting projected fiscal surplus objectives and securing its triple-A sovereign credit rating.
Tracking the US dollar’s value versus six major currencies, the US dollar index tumbled 0.15%, being worth 99.30.
Overnight, the evergreen buck traded higher versus a basket of crucial currencies, buoyed by a surge in hopes that the US major financial institution intends to have its benchmark rate lifted in June.
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