The dollar fell for a third day against the yen as the fallout from President Donald Trump’s remarks on violence in Charlottesville continued to reverberate, raising questions over his ability to retain his team and focus on the economic agenda.
The yen strengthened against its major peers and gold held a two-day gain as a terrorist attack in Spain also fueled demand for the safest assets. Rumors that former Goldman Sachs President Gary Cohn would resign as head of the national economic council rattled financial markets Thursday, until reports that he’d opted to stay. Cohn was said to be particularly upset over Trump’s comments.
USD/JPY falls 0.1% to 109.48 versus session low of 109.30. Further consolidation under 100-DMA expected. First support: 109.00 Aug.14 low; 2nd support: 108.74 Aug. 11 low.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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