Dollar in the Dumps

US Commerce Secretary Wilbur Ross defended those tariffs and warned Washington would be prepared to fight back in future against countries it felt had flouted the rules. The dollar’s sell-off was also helped by investors betting on tighter monetary policies by major central banks, bringing them in line with the Federal Reserve. The dollar took […]

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USD extends its free-fall: EUR/USD conquers 1.24, GBP/USD well above 1.42

Mnuchin’s comment that “a weak dollar is good for the US” added fuel to the fire that was already burning: the fire-sale of the US dollar. In addition, with Trump’s “America First” agenda and the tough trade stance, a weaker dollar certainly seemed to be the clear interest of this administration. But saying it out […]

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Elliott wave Analysis: USDJPY and GBPUSD

USDJPY is bearish, unfolding the final leg 5) of a bigger impulsive wave C. On that note, be aware that we are observing the final stages of a higher degree wave C, which means that despite the current sharp decline, the downside can be limited around the 109.00 region, from where bulls could again pick […]

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Dollar tumbles even lower as Mnuchin endorses weak dollar

US Treasury Secretary Steven Mnuchin says that a weaker dollar is ¨good for the US”. This is very different from the “strong dollar policy” that his predecessors from both parties traditionally had over many decades. The US dollar is falling against all currencies, extending the losses across the board. Mnuchin is speaking in Davos, Switzerland. He […]

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A weak dollar is good for EUR, GBP and CAD

The US Treasury Secretary Steven Mnuchin said that a weak dollar is good for the United States. This statement, a clear shift from the declarations from his predecessors during long decades. The initial reaction was a sell-off across the board, with new highs for most currency pairs against the dollar. And after the first round […]

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