Dollar struggles in APAC

– Greenback recovers from lows –

The prospect of higher rates also helped lift the greenback off a 15-month low, with the US currency recovering Friday against the yen and the euro, and holding the bulk of the gains in forex trade Monday.

Ongoing political turmoil in Washington has cast doubt on President Donald Trump’s ability to push through an agenda aimed at boosting growth and dented the dollar against its major peers.

The outlook for the dollar is still uncertain, market watchers warned.

“Given typical August liquidity conditions, we could be in for a bumpy week as the market irons out if we’re in a short term USD correction or a trend reversal,” said Stephen Innes, who heads Asia-Pacific trade at forex firm OANDA.

AFP

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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