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Trump prompts Dollar dump -After rallying.....>

FOREX
FOREX: Trump prompts Dollar dump
-After rallying for much of Europe, the USD sank alongside excerpts from CNBC's
interview with Trump. The President stated his discontent with rising interest
rates, adding that a strong USD can make the US uncompetitive. This prompted a
pullback in USD/JPY, erasing the day's gains and printing Y112.06. The move
tipped EUR/USD through the Asia and Jul18 highs. The move was capped as a White
House spokesperson clarified that Trump's views are well known and that he
respects the independence of the Fed. Nonetheless, it was the fast-money of the
session.
-A poor UK retail sales number pushed GBP/USD below $1.30 for the 1st time since
August, adding to the string of poor data that may force the BoE to re-consider
their rate hike intentions.
-Commodity-tied FX had a dismal session, with industrial metals falling sharply
on trade concerns.
-Focus Friday turns to Japanese and Canadian CPI as well as a speech from Fed's
Quarles.

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