The US Dollar (USD) is consolidating last week’s heavy losses but the underlying mood across the FX market remains bearish on the USD outlook as investors continue to focus on the negative implications of President Trump’s economic agenda, Scotiabank's Chief FX Strategist Shaun Osborne notes.
The Dow Jones Industrial Average (DJIA) struggled on Friday, falling to a fresh seven-week low below 42,200 before staging a mild recovery to the 42, 800 region.
The US Dollar Index (DXY) extends its brutal slide on Friday, heading for its worst weekly performance in over a year as traders accelerate the selloff ahead of the February employment report.