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US Dollar Falls As Political Turmoil, Geopolitics Drive Trade

The US dollar is sliding against many major currency rivals on Tuesday as domestic political turmoil and geopolitics are dominating the latter part of the trading session. In addition to President Donald Trump stating that he will not accept a bad trade agreement with China, news broke that House Speaker Nancy Pelosi plans to launch an impeachment inquiry to oust Trump from the White House before next year’s election.

Euro Takes a Breather, Gains Against Majors

Euro is a little higher against its major counterparts today, taking a breather after a major slide this week. Indeed, things seem to be calming down this week following dramatic performances from both the euro and the US dollar.

Eurozone Economy Improves, But Euro Still Struggles

Euro continues to struggle today, even after evidence that the eurozone economy is improving. In fact, eurozone economic progress is beating expectations. However, Greece and Ukraine continue to raise questions, and the ECB is still preparing to go forward with its money printing program. These items weigh on the 19-nation currency.

US Dollar Index Heads Higher as Greek Drama Continues

US dollar index is heading higher against today, helped along by Greek drama as the euro struggles. There doesn’t seem to be a good solution to the Greek problem right now, and there are now calls for Greece to abandon the euro — and perhaps use the dollar.

Ruble Drops as Conflict in Ukraine Escalates

The Russian ruble slumped today as escalation of the conflict in Ukraine led to the threat of additional sanctions against Russia, making it very risky for traders to buy Russian asses.

US Dollar Surges Higher Overnight

US dollar is heading higher, gaining ground in overnight trading and recovering after recent losses. The greenback is showing strength as other currencies, notably the pound and the yen, show weakness. There is not a lot to stop the US dollar right now, with uncertainties about geopolitical outcomes, and the fact that the US economy remains on the road to recovery, even as other economies fall behind.

Worst Week for Ruble Since 1999

Woes for the Russian ruble continue as the currency experienced the worst week since 1999. Analysts think that the ruble may go even lower, reaching the 50 per dollar level.

Russian Ruble Plunged on Elections in Ukraine

The Russian ruble plunged today as elections in the eastern parts of Ukraine held by pro-Russian separatists threaten the fragile peace in the region and may lead to a new round of sanctions against Russia.

German, Eurozone Data Weigh on Euro

Euro is seeing more weakness today, and that’s not surprising, given the latest economic data out of the eurozone. Also not helping matters is the fact that the latest data out of Germany is disappointing as well. With the eurozone economy continuing to flounder, the more likely it is that ECB will take increasingly drastic steps to try to stimulate the situation.

Can Dollar Maintain Rally Over Next Week?

Summer has ended, and traders returned from vacations, meaning that trading activity should start picking up. The first trading week of autumn surprised market participants with two shocks: European Central Bank policy announcement and US employment data. What traders can expect from the second week? Let us look at the US dollar and its potential moves against other major currencies.

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