• About Us
  • Authors
  • Currency Charts
  • Live Exchange Rates
  • Contact Us

Exchange Rate Forecast

Exchange rate forecasts and foreign currency news

  • British Sterling
  • Euro
  • US Dollar
  • Australian Dollar
  • Canadian Dollar
  • Brexit News
You are here: Home / US Dollar / Politics remains the driver for the US Dollar

Politics remains the driver for the US Dollar

August 18, 2017 by Lewis Edmonds

Politics remains the driver for the US Dollar

This week has been an eventful week for the US Dollar, with a number of factors ultimately combining, resulting in a sell off of the Dollar, weakening its value.

Whilst tensions between North Korea and the US seemed to cool, at least for now, Donald Trump found himself in the spotlight following controversial comments following the Charlottesville violence.

The President Trump’s comments haven’t been well received and have caused the CEO’s of Campbells Soup and 3M to resign from the White House manufacturing council. These were just two of the seven leaders to step down following the comments. With Inge Thulin, the chief executive at 3M releasing the following statement on Twitter:

pic.twitter.com/9uYGTu04WP

— 3M (@3M) August 16, 2017

This has caused Trump to disband two business councils and has made the Dollar vulnerable as a result. I personally believe, that the politics will remain a key driver for the Dollar moving into next week.

Will the Jackson Hole Symposium give further insight into the FED’s monetary policy?

The recent softening in inflation in the US has caused the Federal Reserve to tread carefully when it comes to whether or not to raise US interest rates.

This week’s FOMC minutes caused a sharp sell off in the Dollar due to the FOMC being divided on whether labour data currently supports a rate hike. A widespread range of topics are to be covered at the Jackson Hole Symposiumin Florida, however I wouldn’t expect to see too much further insight into future monetary Policy. Both Janet Yellen and Mario Draghi are expected to give a talk, so I would expect some market volatility whilst they deliver their opinions on the current economic outlook.

Filed Under: US Dollar Tagged With: Donald Trump, Jackson Hole Symposium

The information on this website is provided for information purposes only. It does not constitute advice to any person on any matter. Every reasonable effort is made to ensure that the information is accurate and complete but we assume no responsibility for and offer no warranty with regard to the same.

About Lewis Edmonds

When he is not offering insights into the what is happening on the currency markets Lewis manages key relationships for an authorised payment institution in the UK.

Recent Posts

  • Sterling finds support but unlikely to make any significant impact in the coming days May 9, 2018
  • US Dollar hits 5 month high against Sterling May 2, 2018
  • Sterling exchange rates at the mercy of political developments May 1, 2018
  • Pound weakens as political uncertainty once again raises its head May 1, 2018
  • Will Mario Draghi’s speech impact GBP/EUR? April 26, 2018

Live Exchange Rates

Archives




Copyright © 2021 — Currency.co.uk • All rights reserved. • Exchange Rate Forecasts • Privacy Policy •

We use cookies to ensure that we give you the best experience on our website. By using this site you agree to receiving cookies.I agreeRead Privacy Policy