The rise of the US Dollar against other currencies, most notably the Euro, has halted on Monday. A much better than expected US jobs report on Friday made it more difficult for the Fed to cut rates at the end of July, disappointing many investors that had already discounted a cut of at least 25 basis points and propelled the greenback to three-week highs.
Right on cue, President Trump entered the discussion, once again pointing the finger at the Fed and making the case for immediate rate cuts. This political pressure is perhaps, at least for the time being, what prevented the US dollar from continuing to gain ground against other currencies.
Photo by Nadine Shaabana.
