USD retreat's on Trump comments; Yuan slips

In an exclusive interview with CNBC, President Trump expressed his disagreement about the Fed raising rates so swiftly but showed no intention of interfering. US Markets closed mostly lower on Thursday on some mixed earnings reports.

This morning Asia still felt the negative handover from the US market close as the bulk of the major equity indices pointed south. ASX 200 and Shanghai however managed to shrug off the concerns as they made it into positive territory this morning so far.

On the currencies markets the USD seems to be in retreat following Trump’s criticism of the Federal Reserve and the currency’s strength.

The Chinese Yuan slipped to more than a year’s lows after the Chinese central bank set the daily midpoint lower for the seventh straight day. The single currency found support this morning but gained ground mostly against the weaker USD.

EURUSD is currently at 1.16675 and realtimeforex.com’s TraderTip is seeing higher ground for today with daily supports lying at 1.1609/1.1586.

Original Article