US House Speaker Pelosi: House to open a formal Trump impeachment enquiry

Anil Panchal FXStreet

Speaker of the US House of Representatives, Nancy Pelosi, is on wires now announcing formal impeachment inquiry against President Donald Trump in a matter concerning a call with Ukraine’s President in July. President Trump and his allies are accused of pressuring of a foreign leader to investigate a domestic political opponent.

Key quotes

“House to open a formal Trump impeachment enquiry.”

“Trump has seriously violated the US constitution.”

“Trump's call with Ukraine's President marked breach of constitutional responsibilities.”

In a reaction, President Trump tweeted that no transcript of the call was given by the Democrats while seeking his impeachment. Following are some of his latest tweets post Pelosi's announcement:

"Such an important day at the United Nations, so much work and so much success, and the Democrats purposely had to ruin and demean it with more breaking news Witch Hunt garbage. So bad for our Country!"

"They never even saw the transcript of the call. A total Witch Hunt!"

"PRESIDENTIAL HARASSMENT!"

FX implications

Given the House Speaker’s key announcement against President Trump, market’s risk-off mood is likely to accelerate, which in turn could have a positive impact on Gold prices while dragging the equities and bonds yields down. However, early Asian session shows little reaction to the news amid a lack of trading activity.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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