020 7898 0500Last week, the US dollar saw its biggest fall since April 2016 against a basket of major currencies, giving up pretty much all of the gains it made after the election of Trump. The recent firing of former FBI Director James Comey – and the subsequent fallout – has put a lot of pressure on the US dollar. It is unlikely that the pressure on the US dollar will change if President Trump has a successful first international tour but it should help to stop the rot.
The US currency has also suffered from a resurgent euro, which has gained more than 2% this week and was on track for its best performance since February 2016.
This week sees a number of Federal Reserve officials speaking on Monday, Federal Open Market Committee minutes on Wednesday, unemployment claims on Thursday and US GDP data on Friday.
