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Daily Report

Nov 24th, 2017: Dollar Rallies in Thin Trading

Morning Report: 07.00 London

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.

Coming up today

The only item of note is German Ifo business climate at 09.00.

Trade Idea

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.

Nov 24th, 2017: Dollar Rallies in Thin Trading

A good way to play this is a LOWER trade predicting that the USD/CHF will close below 0.9800 in 14 days for a potential return of 118%.

Nov 24th, 2017: Dollar Rallies in Thin Trading