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Dollar Trumped
The primary driver overnight was President –elect Trump presser. Judging by the market’s reaction, notably the fierce decline in the USD, dealers were extremely discouraged by the lack of detail regarding the new administration economic plan, as the presser was more about extinguishing smouldering hot spots regarding conflict of interest and the Trump organisations associations with Russia. Dealers will now turn to the Inauguration State of the Union, which in my view offers the ideal platform to present his plans for a massive infrastructure spending program. USDJPY, USDMXN and USD CNH, predictably were the ... (full story)