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New Trump-Russia revelations send the dollar back down

After the announcement of an appointment of a special counsel, the dollar recovered some of its losses on hopes  for calm, at least a temporary one. But this Mueller effect didn’t even last for 12 hours.

A new report by Reuters suggests the Trump campaign had at least 18 undisclosed conversations with the Russians. While some of the talks and email exchanges seem totally normal, these conversations were never disclosed and add to the suspicion. Accusations of a potential collusion between the Trump campaign and the Russians could lead to an impeachment of Trump.

USD/JPY resumes its falls, greenback suffers across the board

Dollar/yen is the best barometer, as the yen is also a safe-haven currency. When the mood improved, the pair topped the 111 level and reached 111.42. And this report contributes to a bigly fall in the pair, over 100 pips. The low so far is 110.24, but the pair bounced back.

EUR/USD is also feeling the fall in the US dollar. The world’s most popular currency pair slipped below support at 1.1120 and went to 1.1077 only to recover back to 1.1136 at the time of writing.

GBP/USD enjoyed a  robust retail sales report and topped 1.30. Other currencies also benefit against the greenback.

More: How to trade a Trump impeachment with USD

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.