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Flynn ready to testify against Trump – USD falls

Ex-National  Security Adviser Flynn agrees to testify against President Donald Trump. Flynn is ready to say that candidate Trump directed him to make contact with the Russians. This is a very significant development that has the potential to bring down the president and his family.

The US dollar is falling.

More:  Flynn against Trump: Can EUR/USD reach 1.20? Levels

USD falls with USD/JPY under 112.   ABC reports :

The general told confidants about his decision to plead guilty in  the last 24 hours, according to people close to Flynn, who say the former adviser feels President Trump has abandoned him and has agreed to answer questions about the president or anyone else.

Former national security adviser Michael Flynn has been charged with lying to the FBI. Will he cooperate and lead to deeper investigations against higher-ranking officials such as President Donald Trump?

A plea hearing was set for 10:30. If he pleads guilty and offers some cooperation, things could get interesting. The US dollar has been quite immune to recent revelations about the Russia investigation. The indictments of Manafort and two others were widely covered but had little impact on the greenback.

EVerybody knew that Manafort had his issues but he was ousted as campaign manager back in August 2016. Flynn was always problematic as well, but he continued and held a top position in the administration. The news comes one day after report came out about a “Rexit” – Rex Tillerson being ousted as Secretary of State.

Here is a snippet from an article by The Guardian:

Flynn is at the center of a broader investigation by special counsel Robert Mueller into links between the Trump campaign and Russian operatives. It had appeared that Mueller’s team was seeking a deal of some kind to win Flynn’s cooperation in that investigation.

We already know that he lied about the contents of the meeting to then vice-president elect Mike Pence. That was the reason for his firing 24 days after entering office.

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.