USD remains soggy, Comey testimony weighing? – ING

The analysis team at ING points out that the DXY continues to edge lower – now back to levels last seen in October as potentially weighing on the dollar this week is the prospect of former FBI Director, James Comey, testifying to Senate this Thursday.

Key Quotes

“Typically the dollar has under-performed on discord in Washington, further eroding Trump’s chance of getting any fiscal stimulus through Congress. With no signs of price pressures picking up in the US, the monetary/fiscal push for a stronger dollar has completely faded – leaving investors to focus on more attractive recovery/growth stories elsewhere in the world.”