020 7898 0500The dollar continued to weaken last Thursday and fell to a five-month low against the Japanese yen. This slump came a day after Donald Trump told the Wall Street Journal he would prefer the Federal Reserve to keep interest rates low and that ‘the best thing about a strong dollar is that it sounds good.’
There was some support for the US dollar as Treasury Secretary Steven Mnuchin stated pretty much the opposite, that a strong dollar would be good for the US economy. Geopolitical tensions, however, continue to weigh on the US currency.
On the data front, US employment claims came out better than expected at 234,000 versus expectations of 242,000, but inflation came in slightly below expectations.
