Free Trial

The dollar remained under pressure through....>

FOREX
FOREX: The dollar remained under pressure through most of the session with
concerns over rumors of a delayed corporate tax plan in the back of investors
minds. Early afternoon witnessed gold drop $9 on reports of a large middle
investor getting out of all assets. The dollar reacted by jumping across the
board. 
-AUSSIE: The AUSSIE had a buoyant tone through the majority of the NY session,
as oil rallied and gold remained in demand,.
- A sharp drop in gold and oil in reaction to talk of a large Saudi Investors
getting out of safe havens witnessed the pair drop to session lows of $0.7654. 
-YEN: Demand for Yen and rejection of the USD continued its theme into NY, as
concerns over Trumps tax reform continued.
-A sharp drop in gold and oil witnessed broad based dollar demand, witnessed the
pair print recovery highs of Y113.59.
-EURO: The rate continued to be led by US Tsys yields, stocks and tax reform.
Traders are now talking that the middle east is more of a concern than North
Korea.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.