On Monday, January 11, the US dollar is trading in positive territory against all major currencies in Asian trading. The largest losses are incurred by the Australian and New Zealand dollars. The US dollar rises amid risk aversion on news of Donald Trump’s impeachment and Taiwan’s policies.
Today, Democrats in the US Congress will try to pass a resolution asking Pence to apply the 25th Amendment to the US Constitution, which allows the Vice President and Cabinet to remove the President. If it does not pass, then on Tuesday, the Democrats will ensure the passage through the vote. They now control two chambers.
Over Taiwan, tensions between the United States and China may increase. The US Ambassador plans to meet with the President of Taiwan on Thursday. China considers Taiwan an integral part of the country and believes that the United States should not interfere in the affairs of other states. US Secretary of State Mike Pompeo said that “Taiwan is not part of China.”
The euro fell to 1.2167. Geopolitics came to the fore. The market has been correcting for the last two hours. The euro is worth 1.2189. I am leaning towards an upward correction to the level of 1.2222 (45 degrees). Christine Lagarde is performing at 17:40 Moscow time. It can also influence the euro pair.
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