Dollar is trading in different directions to the yen and the euro after Trump's speech

The speech of US President Donald Trump with an annual message to Congress had a weak effect on currency trading. The dollar strengthened against the euro but weakened against the yen. As of 11:00 London time, the EUR/USD rate dropped to 1.1385 mark and the USD/JPY rate dropped to a level of 109.70. The dollar index rose by 0.09% to 96.16 points.

Yesterday, Donald Trump promised to complete the construction of the border wall in Mexico. According to the White House administration, a letter was sent to Congress with a proposal that is apt to end the crisis on the country's southern border.

Touching on the topic of trade with China, the US president said that the new deal with China should include significant structural changes in the trade interaction of the two countries and lead to a reduction in the trade deficit of the United States.


The material has been provided by InstaForex Company -