This morning, the US dollar is making a tentative rally in thin post-Thanksgiving trading. Despite this, the Greenback is still set for losses on the week. These losses have been fuelled by FOMC caution and concerns over the impact of Trump’s tax reforms.
The dollar pairs are on the back foot, with the GBP/USD poised for a second straight day of losses. All other pairs are posting moderate losses.
The EUR/GBP is falling again as the euro continues to edge the pound.
After thin trading yesterday, the USD/JPY is posting small gains this morning.
The only item of note is German Ifo business climate at 09.00.
The USD/CHF has started to turn as the dollar rally runs out of steam. Concerns over asset bubbles and ineffective tax reforms have dented the dollar’s confidence.