US Dollar Recovered Mildly as Trump Expressed Support of Strong Currency. Euro Rallied on ECB Confident over Economic Outlook

US dollar pared some of the losses made in the prior day, thanks to President Trump’s comments that the greenback would “get stronger than stronger”. He also suggested that the market might have misinterpreted Secretary of Treasury Steven Mnuchin’s comments about a weak US dollar. a recovery in US dollar was, however, not seen against the euro as the market was unconvinced by ECB’s downplay of the upcoming forward guidance adjustment.

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