The dollar slid and equities took a dive yesterday due to US President Trump’s comments against China at the United Nations, with the tumble extending after Democrats of the House of Representatives decided to launch a formal impeachment inquiry against the President. Elsewhere, the Kiwi was the main gainer among the G10s, as the RBNZ did not suggested that a November cut is a done deal, while the pound rose after the UK Supreme Court ruled UK PM Johnson’s decision to suspend Parliament as unlawful.
House of Representative Democrats Call for Trump’s Impeachment
The dollar traded lower against all of the other G10 currencies on Tuesday and during the Asian morning Wednesday. It underperformed the most against NZD, CHF and GBP, while the currencies against which it lost the least where CAD and EUR.
In the equity world, stock indices tumbled during the US session, with the negative sentiment rolling into the Asian trading today. The initial driver behind the risk aversion was...
Read the full financial markets daily report on JFD Research.