{"id":3265,"date":"2017-04-13T04:12:50","date_gmt":"2017-04-13T04:12:50","guid":{"rendered":"http:\/\/arabicfxadvisors.com\/english\/?p=3265"},"modified":"2017-04-13T04:12:50","modified_gmt":"2017-04-13T04:12:50","slug":"dollar-plunges-trump-says-currency-getting-strong-12-april-2017","status":"publish","type":"post","link":"https:\/\/arabicfxadvisors.com\/english\/dollar-plunges-trump-says-currency-getting-strong-12-april-2017\/","title":{"rendered":"Dollar Plunges After Trump Says Currency `Getting Too Strong&#8217; &#8211; 12 April, 2017"},"content":{"rendered":"<p>The dollar plunged to new session lows after U.S. President Donald Trump said the currency \u201cis getting too strong.\u201d<\/p>\n<p>The Bloomberg Dollar Index abruptly fell more than 0.5 percent, the most on an intraday basis since March 27, after the Wall Street Journal reported Trump\u2019s comments on the dollar. Trump also said he would prefer the Federal Reserve keep interest rates low. Prior to the publication of Trump\u2019s remarks, the dollar had reversed losses to a session high as a meeting of U.S. and Russia\u2019s top diplomats helped ease market anxiety over geopolitical tensions.<\/p>\n<div class=\"body-copy\">\n<ul>\n<li>Trump also told the WSJ that China won\u2019t be named a currency manipulator and that he is open to renominating Fed Chair Yellen. He added that he likes \u201ca low-interest rate policy.\u201d<\/li>\n<li>While the dollar had been buffeted by geopolitical tensions this week, risk assets improved after U.S. Secretary of State Tillerson met with Russian Foreign Minister Lavrov for three hours and &#8212; after much speculation it wouldn\u2019t happen &#8212; Russian President Putin. Earlier, Trump said he had a \u201cvery good call\u201d with China President Xi over North Korea.<\/li>\n<li>USD\/CAD is trading at ~1.3263 after earlier dropping to 1.3254 following the Bank of Canada\u2019s decision to hold rates. The BOC said the output gap will close in 1H 2018, earlier than previously projected. Chatter of U.S. dollar bids related to the Cenovus\/Conoco deal also may have cushioned the decline, traders in Toronto said.<\/li>\n<li>USD\/JPY is trading near a fresh session low of 109.09, lowest since Nov. 17; the pair earlier reached a session high of 109.87, as long yen positions were pared; offers to sell USD were absorbed ahead of 109.80, along with intraday stop-loss buy orders above there, traders in Asia and Europe said.<\/li>\n<li>EUR\/USD is trading at ~1.0667 after filling offers above Tuesday\u2019s 1.0630 high. The shared currency reached a session low 1.0589 as the Tillerson\/Lavrov press conference began. Bids are positioned below 1.0595.<\/li>\n<\/ul>\n<\/div>\n<p>Source: Bloomberg<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The dollar plunged to new session lows after U.S. President Donald Trump said the currency&#8230;<\/p>\n","protected":false},"author":2,"featured_media":1679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[373],"tags":[],"class_list":["post-3265","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dollar Plunges After Trump Says Currency `Getting Too Strong&#039; 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