A combination of events put pressure on the U.S. Dollar last week, culminating with speeches by Fed Chair Janet Yellen and European Central Bank President Mario Draghi on Friday. September U.S. Dollar Index futures settled the week at 92.677, down -0.682 or -0.73%.
U.S. Dollar Index Weekly September U.S. Dollar Index More The week started with the dollar under pressure amid geopolitical tension in North Korea, as investors braced for the annual central bankers’ symposium at Jackson Hole, Wyoming. South Korean and U.S. forces began computer-simulated military exercises on Monday in the wake of North Korea’s weapons programs, angering the Asian communist regime. North Korea denounced the exercises as preparations for a nuclear war. The dollar bounced higher about mid-week after the Euro was pressured by a weaker-than-expected reading on German investor confidence. Position-squaring ahead of the Jackson Hole symposium also supported the dollar. The Greenback was also pressured during the week after U.S. President Donald Trump suggested a shutdown of the government was possible and threatened to terminate the North American Free Trade Agreement. The U.S. Dollar was supported late in the week on increased speculation Republicans and Trump were getting closer to announcing their tax reform plan. President Trump’s chief economic advisor Gary Cohn said the President will start publicly campaigning for highly-anticipated tax reform next week. Cohn told the Financial Times that Trump will begin calling for long-awaited reform next Wednesday when he visits Missouri. Finally, the week ended with the dollar index plunging in reaction to a surge in the Euro. The EUR/USD rallied to a two-year high after European Central Bank President Mario Draghi mentioned nothing about concerns over a high-priced Euro. Dovish comments from Fed Chair Janet Yellen also contributed to the dollar’s weakness.
leek, this is like a mega right issue. sure people will dump first before anything happen. though i didn't own any but worry for the existing shareholders...
I play for fun only la Smartly... look at MBSB and DRBHICOM.... all up 100% after their mega right issues... It will happen to MRCB and UMWOG govt link share....
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Posted by Andrew62 > 2017-08-26 01:58 | Report Abuse
UMW is a curse.
BUY UMW -TOYOTA LAST.