collected by :Irax John
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The U.S. dollar jumped against the Mexican peso on Thursday after President Donald Trump sent Twitter messages that cast new doubt on the relationship between the U.S. and Mexico.
The climb pares a rally in the currency in recent days, when the peso had managed not to weaken in the previous session even after Mr. Trump issued executive orders […]
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Dollar tumbles to seven-week low on Trump uncertainty
The safe-haven yen has been the main beneficiary of U.S. political uncertainty, rising for a second straight session against the dollar.
A man walks past a currency exchange bureau advertisement showing an image of the U.S. dollar in Cairo, Egypt, November 11, 2016.
It climbed as high as $1.2506 , its strongest level against the dollar since Dec. 16.
The dollar index rose about 4.2 percent between Trump’s election in November and the end of last year, but has since given back more than 2.5 percent.
In late trading, the dollar index, which measures the greenback against six major rivals, fell 0.6 percent to 100.16 led by 1.4 percent drop versus the yen to 113.01 yen .
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This would fall broadly in line with the trend in US economic data outcomes, which have tended to outperform consensus forecasts in recent weeks.
The landscape is severely complicated by lingering uncertainty about US fiscal policy however.
The Fed’s favored PCE inflation data, the ISM manufacturing activity survey and January’s jobs report are just the standouts on the data front.
DailyFX.com -Fundamental Forecast for the US Dollar: NeutralTop-tier US economic data, FOMC expected to be relatively upbeatLingering fiscal policy uncertainty may frustrate US Dollar recoveryPrices may be more sensitive to negative vs. positive data outcomesHas the US Dollar matched our forecast so far in the first quarter of 2017?
In the midst of all this, the rate-setting FOMC committee will deliver an update on its policy stance.