Entering into US session, there is fresh selling in Dollar, in particular against Euro, Swiss Franc and Canadian Dollar seen. A key trigger is that Trump’s former lawyer Michael Cohen pleaded guilty to illegal campaign finance charges. Cohen’s attorney Lanny Davis said in a statement that Cohen “stood up and testified under oath that Donald Trump directed him to commit a crime by making payments to two women for the principal purpose of influencing an election.” Additionally, Davis told MSNBC that Cohen has knowledge about Trump regarding computing hacking. And there’s the possibility of a “conspiracy to collude and corrupt the American democracy system in the 2016 election”. Davis said Cohen would be willing to tell Mueller.
Euro and Swiss Franc are trading as the strongest one for the day, followed by Canadian Dollar. Australia is trading even worse than Dollar. Otherwise are mixed.
US futures are relatively steady on the news though and point to flat open. While S&P 500 may open slightly lower, it could still have the buying to make another record high. In Europe, FTSE is trading up 0.38%, DAX up 0.18%, CAC up 0.40%. 10 year German bund yield rose 0.007 to 0.340. Italian 10 year yield rose 0.023 to 2.992. Earlier today, Nikkei closed up 0.64% at 22362.55, Hong Hong HSI rose 0.63% to 27927.58. China Shanghai SSE dropped -0.7% to 2714.61.
