 Dollar's rally extended its rally, bolstered by stronger-than-expected ISM manufacturing data. The notable jump in new orders and easing prices suggest an improving outlook for the US manufacturing sector. In the background, the greenback had a head start for the week after US President-elect Donald Trump adopted a firm stance on maintaining the Dollar’s dominance, demanding that BRICS nations abandon plans to develop a competing currency, or face 100% tariffs on non-compliant nations, marking a sharp pivot from his previous preference for a weaker Dollar. Meanwhile, Euro faced additional pressure amid political turmoil in France, where Prime Minister Michel Barnier’s government is at risk of collapse. Reports suggest Barnier plans to invoke article 49.3 to bypass parliamentary approval on parts of the budget, potentially triggering a no-confidence vote. Opposition parties, including far-left groups and the far-right Rassemblement National, have signaled their intention to support the motion, raising the stakes for Barnier’s leadership. Overall for the day so far, Dollar is currently the strongest one, but trailed closely by Yen, while Loonie is a distant third. Euro is the runaway loser, followed by Aussie and then Kiwi. Sterling and Swiss Franc are positioning in the middle, as both are supported somewhat by buying against Euro.... |
