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Trump Comments Send Dollar Lower

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The dollar weakened and gold advanced with bonds after the President-elect said the U.S. currency is already “too strong.” Stocks declined as traders braced themselves for British Prime Minister Theresa May to set out her plan for leaving the European Union.

The greenback fell against most major currencies after Donald Trump told the Wall Street Journal its value is too high in part because China holds down its currency. U.K. and European equities retreated a second day before a speech by May, in which she is expected to say Britain is likely to pull out of the EU’s single market for goods and services and seek a completely new trading relationship with the bloc. The Bloomberg Commodity Index rose to the highest since July on a closing basis.

Bloomberg

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MS

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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