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Thursday 9 February 2017

Policy as a driver of the dollar

Wednesday passed without critical economic data amid growing geopolitical uncertainty. According to the chief economic analyst at Bloomberg, now the markets are moving not from economic data and the decisions of the Fed, but from the new US president Donald Trump, who controls market assets.
EUR/USD recorded minimal growth during the last session closing the session at 1.0697, although during the day it was trading at 1.0640.
The British pound also ended on green territory, closing at 1.2539. Recent data for inflation showed that it has accelerated to 1.6% in December.
New Zealand dollar recorded a second consecutive decline after the central bank left interest rates unchanged. NZD/USD ended the day at 0.7263.
The Australian dollar recorded growth, closing at 0.7643, breaking the two-day decline.
The Canadian dollar rose against the US dollar after oil broke decline, which began on Monday. USD/CAD closed at 1.3142.
Gold continued its upward range having passed 1,240 and closed at 1241.28 dollars an ounce.

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