U.S. Dollar Extends Drop
22 Enero 2017 - 7:26PM
RTTF2
The U.S. dollar continued to be weak against other major
currencies in the Asian session on Monday in the wake of U.S.
President Donald Trump's protectionist tone in his inauguration
speech, hinting no detail on his plans to stimulate economic
growth.
Investors turned cautious after Trump's inaugural address, which
did not specify his economic policies, but sounded protectionist
after he pledged to lead an administration that puts America
first.
The president's remarks have been described as protectionist, as
he lamented U.S. policies that have enriched foreign industry and
subsidized the armies of other countries at the expense of
America's industry and military.
Last Friday, the U.S. dollar fell 0.29 percent against the euro,
0.29 percent against the pound, 0.51 percent against the Swiss
franc, and 0.24 percent against the yen.
In the Asian trading, the U.S. dollar fell to a 1-1/2-month low
of 1.0749 against the euro, a 5-week low of 1.2445 against the
pound, a 5-day low of 113.44 114.57 against the yen, and more than
a 2-month low of 0.9981 against the Swiss franc, from Friday's
closing quotes of 1.0698, 1.2374, 114.57 and 1.0009, respectively.
If the greenback extends its downtrend, it is likely to find
support around 1.11 against the euro, 1.28 against the pound,
108.00 against the yen, and 0.98 against the franc.
Against the Canadian dollar, the greenback dropped to a 4-day
low of 1.3281 from Friday's closing value of 1.3308. The greenback
is likely to find support around the 1.30 region.
Against the Australian and the New Zealand dollars, the
greenback edged down to 0.7579 and 0.7210 from last week's closing
quotes of 0.7552 and 0.7164, respectively. On the downside, 0.78
against the aussie and 0.74 against the kiwi are seen as the next
support level for the greenback.
Looking ahead, at 6:30 am ET, ECB President Mario Draghi will
deliver a speech on the occasion of the awarding of the Premio
Camillo Cavour organised by Fondazione Camillo Cavour in Turin,
Italy.
Canada wholesales data for November is due to be released at
8:30 am ET.
At 8:15 am ET, ECB Board Member Peter Praet delivers a speech at
"European Pillar of Social Rights Conference", organised by
European Commission in Brussels.
At 10:00 am ET, Eurozone consumer confidence for January is
slated for release.
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