Euro soars

– ‘Bumpy road’ –

“Investors have renewed their interest on the US political overhang as the political landscape continues to weigh heavily on the dollar. Specifically, the long and winding and no less bumpy road to tax reform looks more of a pipe dream now than ever,” said Stephen Innes, head of Asia-Pacific trading at OANDA.

The greenback is at its lowest levels since November and could fall below the 108 yen, analysts warned.

North Korea tensions, which fuelled a global sell-off after Pyongyang tested what it said was a hydrogen bomb Sunday, were eased a little by Trump’s remarks that a US military strike was “not inevitable”.

However, with world powers struggling to agree on a way to address the crisis markets remain on edge, with many observers fearing the North will conduct another missile test on Saturday.

France 24 via 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

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