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The US dollar rose as Federal Reserve rates fell

2019-06-26 04:26 pm | Resource: News | No Views : 161

 The US dollar rose as Federal Reserve rates fell

The US dollar rose against its major counterparts in the European session on Wednesday as expectations of a rate cut in July fell after Federal Reserve Chairman Jerome Powell said the central bank was "isolated from short-term political pressure."

Malmstrom: A reprisal list for the European Union as a Taramb customs tariff

Meanwhile, traders' attention shifted to tariffs after European Trade Commissioner Cecilia Malmstrom said on Wednesday that Brussels had a list of retaliatory tariffs ready to start if US President Donald Trump gave green light to punitive trade measures against European cars. In an interview with Der Spiegel published on Wednesday, Malmstrom insisted that the European automobile industry does not threaten the national security of the United States, where more than 400,000 jobs depend on it in the United States.

The Commissioner said that Brussels remains cautious when it comes to the trade dispute between Washington and Beijing. "As far as China is concerned, we see a lot of things in the same way as the United States," she said. "We are working closely with the United States and Japan in this regard, for example when it comes to monitoring Chinese investments better in our country." . Malmstrom noted, however, that the European Union does not resort to definitions "to confirm political objectives" such as Trump.

"We have often encountered problems with the United States, but in essence, the transatlantic friendship was unbreakable," she added. "We are still talking about a free trade agreement and the harmonization of industrial standards.

Dollar trading against major currencies
  • The dollar rose to a 5-day high of 0.9785 against the franc
  • USD traded at a 6-day high against the JPY at 107.76.
  • The US currency rose to 1.1351 against the euro and then stabilized. When yesterday's close, the pair was worth 1.1366.
  • The dollar rose again to 1.2664 against the pound, a point below the 6-day high of 1.2663
  •  The US currency weakened to near a 4-month low of 1.3142 against the Canadian dollar from yesterday's close at 1.3169
  • And the lowest in more than two weeks at 0.6995 against the Australian dollar from yesterday's close at 0.6960, respectively.


Other analysis

Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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