USD dollar broods in Asia

Stocks fell to intraday lows late in the session after the Wall Street Journal reported that Special Counsel Robert Mueller has impaneled a grand jury in Washington to investigate allegations of Russia’s interference in the elections. But major indexes quickly recouped those losses.

Two sources told Reuters on Thursday that grand jury has issued subpoenas in connection with a June 2016 meeting that included U.S. President Donald Trump‘s son, his son-in-law and a Russian lawyer.

“The grand jury is a sign that the investigation is growing in intensity over the Trump campaign’s possible collusion with Russia,” Stephen Innes, head of Asia-Pacific trading at OANDA, wrote in a note.

“Another toxic elixir for the greenback is brewing.”

Economic Times via Reuters

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Stephen Innes

Stephen Innes

Head of Trading APAC at OANDA
Stephen has over 25 years of experience in the financial markets and currently based in Singapore as the Head of Trading Asia Pacific with OANDA. Stephen's market views focus on the movement of G-10 and ASEAN Currencies. His views appear in Bloomberg, CNBC.Reuters, New York Times WSJ and the Economist. His media appearances include Bloomberg TV & Radio, BBC International, Sky TV, Channel News Asia, ASTRO AWANI and BFM Malaysia. Stephen has an extensive trading experience in Spot and Forward FX, Currency and Interest Rate Futures, Money Market Derivatives and Precious Metals. Before joining OANDA, he worked with organisations like Nat West, Chemical Bank, Garvin Guy Butler, and Sumitomo Mitsui Banking Corporation. Stephen was born in Glasgow, Scotland, and holds a Degree in Economics from the University of Western Ontario.
Stephen Innes