EUR/USD is trading at 1.1630, the highest since 2015. It moved to 1.1570 on Draghi’s failure to convince that tapering is coming. The fresh news about deeper Trump trouble is compounding the move.
Special counsel Robert Mueller is examining Donald Trump’s business transactions including First Son in Law Jared Kushner and former campaign manager Paul Manafort.
Bloomberg has the scoop about a significant expansion of the investigation into the President’s dealings. Earlier, the New York Times reported that Manafort had a significant debt to Russians according to information obtained from offshore accounts. The President’s son was the star of last week’s troubles. Don Junior laid out a “smoking gun” about negotiations with the Russians.
The President is in deeper trouble as his personal affairs come under scrutiny. After health care failed earlier in the week, tax reform could also be jeopardy.
EUR/USD way above 1.16, also on Drgahi
Draghi did not convince with his dovishness. He said they did not discuss anything but did acknowledge the improvement in the economy and said they would have a serious discussion in the autumn.
This is the result: EUR/USD is trading at 1.1640, after having reached 1.1656. This is above the levels seen in 2016, which were 1.1620. The next level of resistance is 1.1720, 2015 high.
Here is another opinion: EUR/USD: Overbought After 1.15 Break; What’s The Trade? – Danske
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