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Dollar Ends Week Stronger vs. Euro & Pound, Weaker vs. Commodity Currencies

The past trading week was marked by several important events, and they were positive for the US dollar for the most part. As a result, the greenback rallied against the euro and the Great Britain pound, but was soft versus commodity currencies.

Euro Loses Ground Against the US Dollar on Dovish ECB and UK Election Results

The euro today lost significant ground against the US dollar to test new lows for the third day in a row after yesterday’s dovish outlook from the European Central Bank. The currency pair’s decline was also caused by the stronger US dollar after yesterday’s UK general election, which resulted in a hung parliament, as no party won a majority.

US Dollar Higher After James Comey Concludes Testimony

The US dollar rose today after the testimony of former FBI chief James Comey concluded without major revelations that can lead to an impeachment of US President Donald Trump.

Yen Goes Lower vs. Rivals as Economic Data & Market Sentiment Don’t Support

The Japanese yen dropped today, hurt by domestic macroeconomic data and the general market sentiment.

US Dollar Drops Against Japanese Yen as Caution Spreads Between Traders

The US dollar traded near its lowest level against the Japanese yen in more than seven weeks on Wednesday as a cautionary mood took over the market. Traders are anticipating a vote in the United Kingdom, a monetary policy decision from the European Central Bank, and a testimony connected to Donald Trump’s ties with Russia.

EUR/USD Trades Lower on Rumors Regarding the ECB’s Inflation Forecast

The EUR/USD currency pair today retreated from its daily highs based on rumors that the European Central Bank would downgrade its inflation forecast at tomorrow’s meeting. The currency pair had risen to a new daily high earlier in the day’s session despite the soft German data released by the Federal Statistical Office, but quickly retraced most of its gains due to the rumor.

US Dollar Retreats amid Higher Political Fears Ahead of James Comey Testimony

The US dollar moved lower against a basket of its major peers on Tuesday as geopolitical risks increased following a diplomatic rift between Arab states. Traders’ anticipation for a parliamentary vote in the United Kingdom and a testimony by Federal Bureau of Investigation Director James Comey added to risk aversion mood in the market.

Yen Thrives as Geopolitical Risks Strengthen

The Japanese yen surged today amid the risk-averse market sentiment, caused by various geopolitical problems across the world.

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.

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.

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