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Jan 17 - 03:55 PM

EUR/USD - Trump, Xi Induced Rally Erased

By Christopher Romano  —  Jan 17 - 01:44 PM

• NY opened near 1.0305, drop ensued on US$ buys; USD/CNH hit 7.3578

• 1.02658 traded on EBS, buyers emerged, sharp rally took hold

• US$ dropped on report Trump, Xi held an upbeat phone call

• Stocks , yields rallied & USD/CNH fell to 7.3338

• EUR/USD rallied to 1.03308 then turned lower again, neared 1.0280 late

• US$ buys, wider spreads helped EUR/USD trade down -0.20% late

• Monthly, daily dojis imply indecision; falling RSIs are bear signals
eurusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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