The dollar witnessed a significant fall on Wednesday following the release of a series of US statistics. The $-Index plummeted by -1% to 105.95. It's interesting to note that the start of Trump's term no longer seems to be regarded as potentially inflationary. The yen, on the other hand, continued its remarkable ascent with a second consecutive session of strong gains. The dollar depreciated symmetrically by -1.5% to 150.60 (after -0.8% the previous day) and also lost -0.8% against the euro to 1.0570, and further -0.85% against the pound.
A Little Background and the Current Economic Scenario
In just 48 hours, the Euro has surged by +1.5%. Meanwhile, the Barnier government appears to be on borrowed time, and France is clearly heading towards a recession. In Germany, things aren't going smoothly either, with the 'GfK' index of consumer confidence falling from -4.9 points to -23.3. The election of Trump is seen as bad news for German industry.READ MORE