Forex Today: dollar hit by fears, Trump’s impeachment talks
|Here is what you need to know on Wednesday, September 25th:
- The American dollar suffered from renewed fears surrounding the US trade relationship with the China, and headlines indicating that Nancy Pelosi, the US House Speaker, plans a formal impeachment inquiry of President Trump. EUR/USD recovered the 1.1000 level, but the upside remained limited.
- The UK Supreme Court has ruled that Boris Johnson's suspension of Parliament was unlawful, further diluting chances of a hard-handing. Now, is up to John Bercow, the Speaker of the House to decide whether to end the parliament's suspension or not. House Leader Mogg will address Parliament on Wednesday. GBP/USD flirted with 1.2500 but was unable to surpass the level clearly.
- Wall Street collapsed on Trump’s impeachment news, oil also went sharply lower. Safe-haven’s gold and yen benefited the most.
- Cryptocurrencies collapsed in the US afternoon, with BTC down over $1,500.00 in the day.
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