A weak dollar is good for EUR, GBP and CAD

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The US Treasury Secretary Steven Mnuchin said that a weak dollar is good for the United States. This statement, a clear shift from the declarations from his predecessors during long decades. The initial reaction was a sell-off across the board, with new highs for most currency pairs against the dollar.

And after the first round of selling, we are seeing a new one, with these three currency pairs standing out:

Will the US dollar sell-off continue? We still have a speech from US President Donald Trump in Davos and the first release of US GDP. After these huge losses, a bounce-back cannot be ruled out.

More: USD Index, EURUSD, and Bund Elliott Wave Video Analysis

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About Author

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 the 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.

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