The US dollar lost some of its bullish momentum observed since the beginning of last week in the second phase of Friday's session, after the market began to fear that Donald Trump's presidency would increase price pressure in the economy and thus discourage the US Federal Reserve from further interest rate cuts.
At the moment, however, this narrative is losing its strength slightly. The Japanese yen is gaining over 1% against the USD today, and the USDJPY pair is already sinking to the 154.700 zone. What's more, we can also see an attempt to create a local bottom on the EURUSD pair.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile app
The US dollar is losing value against a basket of most currencies today. Source: xStation
The USDJPY pair is recording a strong pullback today, which is approaching the local lows from November 13. Source: xStation
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
