U.S. President Trump: USD is getting too strong - WSJ

Felipe Erazo FXStreet

U.S. President Donald Trump is crossing the wires, via WSJ, stating that U.S. dollar is getting "too strong".

Key quotes (via WSJ):

"I think our dollar is getting too strong, and partially that's my fault because people have confidence in me. But that's hurting-that will hurt ultimately"

"Look, there's some very good things about a strong dollar, but usually speaking the best thing about it is that it sounds good"

Additional headlines:

U.S. President Trump likes "low-interest" rate policy - WSJ

EUR/USD jumps to fresh session highs on Trump comments

Author

Felipe Erazo

FXStreet

Born in Colombia, Felipe Erazo is the American Session Manager at FXStreet. He has been studying journalism with a degree in social communication at the Universidad de Chile.

GBP/USD loses as rising US Dollar, geopolitical tensions weigh on sentiment

GBP/USD inches lower after remaining flat in the previous day, trading around 1.3500. The currency pair continues to hold its losses as the US Dollar gains strength ahead of a crucial inflation report. Investors are watching this upcoming reading closely, as it is expected to play a major role in shaping the Federal Reserve’s next interest rate decision.

EUR/USD consolidates below mid-1.1500s ahead of German HICP, US CPI

The EUR/USD pair struggles to gain any meaningful traction and holds steady around mid-1.1500s during the Asian session, within a familiar range held over the past week or so. Traders keenly await the release of the key US inflation data and further developments surrounding the Middle East crisis before placing fresh directional bets.

Gold awaits US CPI inflation for the next big move

Gold is back on the bids and looks to regain the $4,400 level in Wednesday’s Asian trading, having found buyers near the $4,350 region. All eyes remain on the high-impact US Consumer Price Index data, which could determine if Gold stretches higher or corrects sharply.

Crypto Overview: Bitcoin loses $64,000 – LINK, DOGE sustain gains

Bitcoin is trading below $64,000 amid a broader market risk-off sentiment. Emerging as top performers over the last 24 hours, Chainlink and Dogecoin sustain gains, hinting at an extended recovery. CoinMarketCap’s Fear and Greed Index at 38 reflects persistent risk-averse sentiment in the crypto market.

US Dollar: CPI keeps USD in tight ranges

OCBC’s Sim Moh Siong and Christopher Wong note the US Dollar softened as Fed hike expectations moderated and the US yield curve steepened. They argue that without a strong upside surprise in United States Consumer Price Index, the USD should stay rangebound, supporting carry trades.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.