Dollar loses its speed

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After the President-elect recent press conference, a dollar has lost its current speed race. And it made American national currency to leave its weekly gain behind this time.

With no confirmation from Trump about the much-awaited fiscal stimulus and taxes cuts, a dollar may continue to fall down, after reaching the 14-week highest peak. We believe that the next week may not be very productive as well.

Strategists believe that Trump’s speech confirmed their fears of the newly elected president impact on the market. His words during the presidential campaign made dollar jump up to its highest numbers, and now it can lose all its income if nothing will change.

Yesterday, right after the official conference, a dollar went down, and its index lost 0.3 percent. It stood on 101.520 during the night. Wall Street has opened its work with a slight increase in dollar’s position to the 102.950.

Meanwhile, European national currency euro has finally begun to get stronger. It went up to the 1.0602 dollars during the early trades. Last Wednesday it was equal to the 1.0454 dollars.

As for the Japanese yen, it began to grow again, following the dollar’s drop. Today dollar finished its fall at the 114.76 yen, leaving 116.87 yen peak it has reached lately.

At the same time, British pound of sterling continues to suffer from the Theresa May firm position towards the EU, and their break-up with a former ally. It already reached the lowest number in the last 10 weeks and is equal to the 1.2048 dollars. Spread betters predict that it will finish this day on 1.2203 dollars position.