The u.s. dollar was almost flat Wednesday morning, while the euro was also virtually unchanged after the Italian Prime minister has resigned.
The us dollar index which tracks a basket of other currencies, has changed little 98,107. A gathering of central bankers in Jackson Hole, Wyoming, and a speech by the Fed chairman Jerome Powell, should be factors in determining the direction to the u.s. currency.
The Fed will publish the minutes of its policy meeting-general for July later in the evening. In July, the central bank had reduced its key rate for the first time since the financial crisis.
The euro was almost stable after the Italian Prime minister, Giuseppe Conte, has announced his resignation before the vote of censure.
The latest reports suggest that it is not clear whether early elections would be held or whether Parliament would be asked to try to form a new government.
The japanese yen, shelter, has also fallen against the us dollar, even as the equity markets moved to the downside, while the global economy is slowing down. The uncertainties surrounding the hit china-us relations have also affected the market sentiment, the us president, Donald Trump had said that he had to “attack China”, even though this would be a short-term impact on the u.s. economy.
“Someone had to confront China,” said Trump to the press during the visit to the White House of the Romanian president Klaus Iohannis. “This is something that had to be done. The only difference is that I am,” he said.
“The China scam this country for the past 25 years, since more a long time and it is high time that this was good or bad for our country in the short term. In the long term, it is imperative that someone else do it”, he said.
