Thanksgiving of the US Dollar
Posted: Thu Nov 24, 2016 2:12 pm
This article was written by Ashwin Peswani, Regional Director of MTrading.
With robust Durable Goods Orders and an upbeat statement from the FOMC minutes in November, the USD managed to extend its run north on the Thanksgiving holiday as investors more or less remained assured of a December Fed rate-hike.
Elsewhere, the EUR dipped with its regional political trauma while the GBP also had to trim a bit of its previous gains and the JPY plunged heavily with continuous liquidation in safe-havens.
Further, the AUD remained strong as increasing iron ore demand helped this commodity currency, but the NZD and ... (read more)