All love is lost between the FX markets and the US dollar after Trump’s inauguration speech failed to deliver the policy specifics that traders were looking for. Consequently, the GBP/USD pair rallied in Asia to print a session high of 1.2426 levels. The 50-DMA is seen at 1.2409 levels. Unwinding of Trump trade gathers pace The rise in the GBP/USD pair is partly due to ‘sell the fact’ trade in the USD. The greenback has been ruling the roost ever since Trump won the elections. The other reason for the retreat in the US dollar is the heightened odds of Trade war between US and China. Trump has not softened his stance ... (full story)