US: Trump headlines stealing the show – Deutsche Bank

Sandeep Kanihama FXStreet Contributor

The research team at Deutsche Bank points out that the Trump headlines concerning the revealing of sensitive information to Russian oﬃcials led to the big drop in the US Dollar yesterday with the Dollar index falling -0.81% and to the lowest level since November 8th.

Key Quotes

“Trump’s national security advisor H.R. McMaster addressed the reports in a press conference downplaying the security leak by saying that the disclosure was “wholly appropriate” and also calling the Washington Post article “false”.”

“There are more developments to report this morning though, and perhaps more serious for markets. After markets closed last night, a story emerged in the NY Times (and now being reported in other press outlets) suggesting that the President had attempted to get former FBI Director James Comey to end the FBI’s investigation into former Trump aide and national security advisor Michael Flynn.”

“The story concerns a memo written by Comey back in February following a conversation with Trump at the White House. Trump’s administration is denying that the President asked Comey to end the investigation. The Chairman of the House Oversight Committee has now requested all documents from all meetings between Trump and Comey. The Chairman also said that the reports in the press “raise questions as to whether the President attempted to inﬂuence or impede the FBI’s investigation as it relates to Flynn”. The question of this being an impeachable oﬀense through obstructing justice has been raised in several news reports and by members of the Democratic Party.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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