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US Dollar Weakens as Traders Remain Concerned About Political Instability

The US dollar weakened against a basket of its major counterparts on Monday as political woes continued to loom over the market, which reduced demand for the greenback. A cautious trading mood ahead of major data releases this week drove an index of the strength of the US currency to its lowest level since October 2016.

EUR/USD Rallies Higher on Angela Merkel’s Comments

The EUR/USD currency pair today rallied higher during the European session after German Chancellor, Angela Merkel, blamed the euro’s weakness on the European Central Bank. The lack of economic releases from both the US and the European dockets made the currency pair especially sensitive to Merkel’s comments.

US Politics Lead to Awful Week for Dollar

The US dollar has ended the week as the weakest major currency as controversies surrounding US President Donald Trump erased the appeal of the currency to investors, driving the greenback to the lowest level since Trump became a president.

USD/JPY Declines to New Lows on Broad US Dollar Sell-Off and Dovish Fed Comments

The USD/JPY currency pair posted a minor recovery from yesterday’s losses during the Asian session, but these gains were quickly reversed during the early North American session. The pair seemed to recover briefly as the uncertainty around Donald Trump‘s presidency waned slightly, but went ahead to establish a sideways trend as the selling pressure on the greenback increased after James Bullard‘s dovish comments.

US Dollar Plummets Against Euro to Lowest Level Since Trump Election Victory

The US dollar plummeted against the euro on Friday to touch its weakest level since Donald Trump won the US presidential election in November 2016. The greenback had a bad week as traders became worried that the president may face strong political resistance to his economic agenda following the aftermath of his sudden termination of Federal Bureau of Investigation Director James Comey.

GBP/USD Rallies Higher Boosted by Dovish Comments from Bullard

The GBP/USD currency pair rallied higher today after dovish comments from James Bullard, President of the Federal Reserve Bank of St. Louis, during the early North American session. The currency pair was on an upward trend for most of the European session following the release of positive CBI trends total orders earlier today.

Canadian Dollar Trades Without Direction After Mixed Data

The Canadian dollar traded without clear trend during the current trading session, which made sense considering Canada’s macroeconomic data released today was mixed as well, giving the currency no reason to move in a particular direction.

Brazilian Real Sinks as Political Scandal Emerges

The Brazilian real sank about 7% during the current trading session after allegations were made that the country’s President Michel Temer made an attempt to bribe a witness in a graft probe.

US Dollar Stabilizes Against Major Peers as Trump Woes Diminish

The US dollar was little changed on Thursday after maintaining most of the losses it had over the past two days amid higher uncertainty about the prospects of Donald Trump’s economic agenda. A series of political developments this week left the US president in a difficult position, which weighed on the greenback, but the currency limited its decline as positive economic data eased traders’ concerns.

Japanese Yen Pauses Rally as Risk Aversion Eases Somewhat

The Japanese yen paused its rally against the US dollar and some other currencies as risk aversion caused by US politics eased a bit. Yet fears were not gone completely and may return in full force as clouds are gathering over US President Donald Trump and his future as a head of the United States.

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