Boris and Kathy Forex Weekly – 28-05-2018 – Commodity Dollars
May 27, 2018 11:09 pm
Between President Trump’s decision to cancel the historic U.S. – North Korea Summit and the call for a no-confidence vote against Prime Minister Rajoy in Spain, politics rocked the forex market last week with dollar bulls losing control. After rising for 8 weeks straight and hitting a 4-month high on Monday, USD/JPY sank below 110 to end the week on he 109 handle. The greenback’s reversal also took the Swiss Franc, Australian and New Zealand dollars higher but their recoveries were modest compared to USD/JPY.
Between President Trump’s decision to cancel the historic U.S. – North Korea Summit and the call for a no-confidence vote against Prime Minister Rajoy in Spain, politics rocked the forex market last week with dollar bulls losing control. After rising for 8 weeks straight and hitting a 4-month high on Monday, USD/JPY sank below 110 to end the week on he 109 handle. The greenback’s reversal also took the Swiss Franc, Australian and New Zealand dollars higher but their recoveries were modest compared to USD/JPY.
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