US dollar index flat on Trump’s first day
|The US dollar dropped marginally in the currency market after the inauguration of Donal Trump. Most crosses remained within previous range. The Mexican peso outperformed and extended gains versus the US dollar.
The US Dollar index, which gauges the greenback against its main competitors, is falling 0.09%, currently slightly below 101.00. The index weakened during the American session but remained at all times above Asian session lows that lie at 100.78. Earlier it peaked at 101.43 from where it dropped toward current levels.
No surprises emerged from President Trump speech and market volatility remained low. The new president repeated most of his campaign lines, inaugurating a new era for the US and maybe the world. In the first hours of the Trump administration, equity prices dropped modestly, the bond market remained steady and the US dollar fell marginally.
Next week, the key economic reports will be released on Friday, with the first reading of 4Q GDP growth. Economic numbers are likely to be offset by announcements from the next administration.
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