Indian Rupee at 3 Month High

  Uncertainty over whether Trump will offer enough details on
his plans for infrastructure spending and tax reforms, were
helping to weigh on the dollar, traders said.    
    "The market is positioning for disappointment," said Stephen
Innes, a senior trader for FX broker OANDA in Singapore.      
    "Traders are going to start asking themselves undoubtedly,
the longer the tax reform gets played out, is the market's
expectations too high?"    
    At the same time, traders will probably be wary of selling
the dollar aggressively ahead of Trump's address, Innes said.

REUTERS

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Stephen Innes

Stephen Innes

Senior Currency Trader and Analyst at OANDA
Stephen has over 25 years of experience in the financial markets and specializes in Asian currencies at OANDA. After having started his trading career with NatWest Bank, he is currently based in Singapore as a Senior Currency Trader and Analyst with OANDA, focusing on the movement of the Aussie Dollar and ASEAN Currencies. Stephen has an extensive trading experience in Interest Rate Futures, Money Markets and Precious Metals. Prior to joining OANDA, he worked with organizations like Cambridge Mercantile, Nat West, Garvin Guy Butler, Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes
Stephen Innes

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