The US dollar lost some of its bullish momentum seen since the start of last week in the second phase of Friday’s session, after the market began to fear that Donald Trump’s presidency would increase pressure on prices in the economy and thus discourages the American Federal Reserve from making further interest rate cuts.
At present, however, this discourse is losing slightly its force. The Japanese yen is gaining more than 1% against the dollar today, and the USDJPY pair is already sinking into the 154,700 zone. Furthermore, we also observe an attempt to create a local fund on the EURUSD pair.
The US dollar is losing value against a basket of most currencies today. Source: xStation
The USDJPY pair is seeing a sharp decline today, approaching local lows from November 13. Source: xStation
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