Overnight, the greenback came under selling interest after Gary Cohn, Trump’s top White House economic adviser, decided to resign. As for today, the BoC is expected to stand pat, but following the latest developments around trade, it may appear more concerned than previously.
Dollar Tumbles as Gary Cohn Resigns
The dollar underperformed all the other G10 currencies on Tuesday, with the main gainers being NZD, EUR and JPY, in that order.
During the European morning yesterday, the greenback came under some selling interest as investors bet on riskier currencies, as well as the equity markets, following news that North and South Korea will hold their first summit in more than a decade next month, and that North Korea is willing to hold talks with the US on denuclearization.
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