“The dollar will get stronger,” comment did not help the U.S. dollar very much after all. The euro recovered much of its losses after the strong dollar talk and reclaimed the 1.25 handle before settling at around 1.2420. The ECB President Draghi’s press conference yesterday delivered a nice gift to…
Category: Forex
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Mnuchin’s Weak Dollar Comment Sent the Taiwan Dollar to a 5-Year High
Another record high for the New Taiwan dollar in 5 years. The Taiwan New Dollar rose 2.33 cents against the U.S. dollar today. It is approaching the 1 U.S. dollar to 29 New Taiwan dollar 5-year high. The Taiwan Central Bank President Peng stated that the U.S. Treasury Secretary Mnuchin…
Draghi Sent the Euro to 1.25
As expected, it’s been a very busy day for the euro. The ECB announcement was very much as expected. It left the monetary policy unchanged, acknowledged the economic strong growth, and emphasized the subdued inflation. These were probably the reasons why the traders had quietly pushed the euro higher to…
The Euro Stopped Short of 1.24 – Await the ECB Tomorrow
The euro has stalled at 1.24 but enjoyed a great run up none the less. The U.S. dollar bearish sentiment was worsened by the U.S. Treasury Secretary Mnuchin’s weak-dollar comment. He said earlier, “Obviously a weaker dollar is good for us as it relates to trade and opportunities.” The euro…
The Weak U.S. Dollar Comment Sent the Euro to 1.24
The euro has managed to set another record since January 16th even though the ECB rate decision and its economic outlook statement are looming. The U.S. dollar bearish sentiment was exacerbated by the comments from the U.S. Treasury Secretary Mnuchin. He said, “Obviously a weaker dollar is good for us…