EUR/USD rebounds from Trump inspired slide

Late yesterday evening, just as the US FX markets were drawing to a close, the US President sent the dollar charging higher. The EUR/USD, which had just closed lower anyway, at 1.1421 fell sharply. That was all because Trump said he never had any intention for firing the Fed boss, Jerome Powell. Well, that was quite a remarkable thing for Trump to say, given the plethora of comments he had made on his social media platform in recent days. It is quite clear, either he felt compelled to reverse that rhetoric, or more likely he was strongly advised to do so. Either way it was just another example of the growing evidence of his credibility of going down the drain. Anyway the dollar rose and that saw the EUR/USD slide to 1.1308. as the USD/JPY charged above 143 on the same news. US equity futures also surged on that news. However, since then the EUR/USD has rebounded and earlier today it rose to 1.1429. It is off that rebound high now though, currently trading at 1.1386