Dollar price drops after Trump does not agree FED raises interest rates
The dollar fell on Tuesday after the US president said that he did not agree with the FED's decision on raising interest rates.
USD index-US dollar indices, the dollar strength readings compared to the basket of 6 major currencies, which fell 0.3% to 95.39 at 1:20AM ET (0520GMT).
"I should be FED help," Trump said, and added that he believes the FED will do "The best thing for the country".
The FED will gather to decide the interest. The market is predictage that the FED will raise interest rates in Sep and late. Up to now, the FED has increased the total interest rate 5 times since Trump took office.
President Trump also alleged Chinese and European control rates.
Trump said in an interview with Reuters on Monday: "I think China control rates, sure. And I thought the Euro was also controlled. "
Masafumi Yamamoto of Mizuho Securities stated that the FED's officials seemed unaffected by Trump's comment. He said: "Until the US economy was fine... I think there is no reason to stop raising interest rates, according to the FED's perspective. "
Reports say that China and the United States will meet to negotiate this week, which is also adverse information against the dollar as analysts forecast the meeting will dissect somewhat trade tensions between the two parties.
Tensions escalated and the crisis in Turkey pushed the dollar to rise in price, USD Index increased to 96,984 on Aug. 15, the highest since May 6/2017.
Meanwhile, the USD/JPY rate was unchanged, at 110.08. The exchange rate fell under the psychological mold 110 for the first time since Jun 28 on the last Tuesday.
The AUD/USD rate rose 0.3%, while the NZD/USD rate also increased by 0.6%.
The CNY/USD rate drops 0.3% to 6.8500 on Tuesday after the Chinese central Bank specifies the reference rate at 6.8360 compared to the 6.8718 of the second day.
USD index-US dollar indices, the dollar strength readings compared to the basket of 6 major currencies, which fell 0.3% to 95.39 at 1:20AM ET (0520GMT).
"I should be FED help," Trump said, and added that he believes the FED will do "The best thing for the country".
The FED will gather to decide the interest. The market is predictage that the FED will raise interest rates in Sep and late. Up to now, the FED has increased the total interest rate 5 times since Trump took office.
President Trump also alleged Chinese and European control rates.
Trump said in an interview with Reuters on Monday: "I think China control rates, sure. And I thought the Euro was also controlled. "
Masafumi Yamamoto of Mizuho Securities stated that the FED's officials seemed unaffected by Trump's comment. He said: "Until the US economy was fine... I think there is no reason to stop raising interest rates, according to the FED's perspective. "
Reports say that China and the United States will meet to negotiate this week, which is also adverse information against the dollar as analysts forecast the meeting will dissect somewhat trade tensions between the two parties.
Tensions escalated and the crisis in Turkey pushed the dollar to rise in price, USD Index increased to 96,984 on Aug. 15, the highest since May 6/2017.
Meanwhile, the USD/JPY rate was unchanged, at 110.08. The exchange rate fell under the psychological mold 110 for the first time since Jun 28 on the last Tuesday.
The AUD/USD rate rose 0.3%, while the NZD/USD rate also increased by 0.6%.
The CNY/USD rate drops 0.3% to 6.8500 on Tuesday after the Chinese central Bank specifies the reference rate at 6.8360 compared to the 6.8718 of the second day.
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