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EUR/USD slips following Trump Hormuz move
As we noted in the previous update the dollar has risen on the news from the US President; that he will now offer safe passage through the Straits of Hormuz, in return for a 20% tariff on goods that sail through the area.
Look we are stunned by this move from Trump and we now float the idea of why he has done this. Trump faces a beating in the US Mid-term elections and what he might now attempt to spin is the notion the US can now turn a profit from its flawed intervention in the Middle East. What is ironic about all this; not long ago the US administration was labelling Iran as gangsters for attempting to extort fees from ship owners in order to avoid being attacked when passing through the Straits. So, what exactly is different? We shall let you figure that out.
Anyway Gold is still near session lows and at risk of falling below $4k and the dollar is higher. The EUR/USD has just traded below the 1.14 handle again. It is currently trading at 1.1401
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EUR/USD slips following Trump Hormuz move
As we noted in the previous update the dollar has risen on the news from the US President; that he will now offer safe passage through the Straits of...
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