USD/JPY reclaims 147 as EUR/USD falls below 1.10 following Trump climb down

The US dollar has continued to feed off the positivity now embracing the US stock markets following the decision by Trump to delay tariff measures by 90 days for all countries except China. The initial move higher in the dollar saw the EUR/USD fall to 1.0947. It did bounce back above the 110 handle again, but it is falling back again now as the Fed meeting minutes hit the screens. The USD/JPY, which traded to exactly 144 earlier, rose sharply above 147 and it is close to session highs right now too. To be honest the markets are really rather unconcerned by the Fed meeting minutes as all the tariff news has totally eclipsed anything there. Perhaps we will look at that in more detail. Meantime, US stocks are on a tear and that is pushing the dollar higher. The EUR/USD is now at fresh session lows as the USD/JPY rises to 147.60