The US dollar lost some of its bullish momentum observed since the beginning of last week in the second phase of Friday's session, after the market began to fear that Donald Trump's presidency would increase price pressure in the economy and thus discourage the US Federal Reserve from further interest rate cuts.
At the moment, however, this narrative is losing its strength slightly. The Japanese yen is gaining over 1% against the USD today, and the USDJPY pair is already sinking to the 154.700 zone. What's more, we can also see an attempt to create a local bottom on the EURUSD pair.
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The US dollar is losing value against a basket of most currencies today. Source: xStation
The USDJPY pair is recording a strong pullback today, which is approaching the local lows from November 13. Source: xStation
