Boris and Kathy Forex Weekly – 27-11-2017 – Crosses
November 26, 2017 9:54 pm
Another Brutal Week Ahead for the Dollar? By Kathy Lien, Managing Director of FX Strategy for BK Asset Management U.S. dollar bulls have nothing to be thankful for, as it was a short and brutal week for the greenback. The dollar sold off against all of the major currencies, hitting a 2-month low versus the Japanese Yen and a 1-month low versus the euro, Swiss Franc and sterling in the process. All of the factors that had previously driven the greenback sharply higher are the same ones that are now driving it lower. USD/JPY experienced the steepest decline followed by USD/CHF while gains in GBP/USD, EUR/USD and AUD/USD were restrained by previous weakness. Looking ahead to a full trading week, many investors are wondering if it will be another difficult one for the greenback. The answer to that question lies in tax reform. The Senate will be back from recess and if there’s no meaningful progress or more GOP deflectors, the dollar could face further losses.
Another Brutal Week Ahead for the Dollar? By Kathy Lien, Managing Director of FX Strategy for BK Asset Management U.S. dollar bulls have nothing to be thankful for, as it was a short and brutal week for the greenback. The dollar sold off against all of the major currencies, hitting a 2-month low versus the Japanese Yen and a 1-month low versus the euro, Swiss Franc and sterling in the process. All of the factors that had previously driven the greenback sharply higher are the same ones that are now driving it lower. USD/JPY experienced the steepest decline followed by USD/CHF while gains in GBP/USD, EUR/USD and AUD/USD were restrained by previous weakness. Looking ahead to a full trading week, many investors are wondering if it will be another difficult one for the greenback. The answer to that question lies in tax reform. The Senate will be back from recess and if there’s no meaningful progress or more GOP deflectors, the dollar could face further losses.
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