The US dollar was up against major currencies in different currency trading markets, after dropping in Forex due to the first speech of the elected president of the United States, Donald Trump, when he stood at the Congress once seeing a bearish closure of major Wall Street indexes.
The currency used in the country rose against rivals in Forex market, pushing down the European and Japanese currencies, ceding significant ground against the dollar in the exchange market currencies.
The President left the dark rhetoric to which we had been accustomed, reciting a speech with a much softer tone in the meeting with Congress, with statements that cast patriotism and optimism aside.
He showed a much more optimistic version, outlining the plans of his government, reiterating some of the proposals he had made during the campaign and expressing changes from the usual rhetoric, especially in recent weeks.
President Donald Trump, focused his statements on the border, medical assistance and the armed forces. He cited the words of truth, freedom and justice that have marked the different generations of the country.
The EUR-USD reacted to the decline in Forex after the speech of US President. Referring to economy, he said that people have spent billions of dollars in other countries, while the US infrastructure has collapsed severely.
He also referred to companies that returned to the United States, such as Ford, Fiat-Chrysler, General Motors, Softbank, Intel, Walmart and others; He added that these companies not only announced an expenditure of millions of dollars in the country, but in turn generate many jobs.
The president says it is necessary to restart American economy in order to ease how companies do business in the country and stop them from thinking about leaving.
Then he confirmed that his economic team has been developing a historic tax reform that will reduce the rate of taxation for enterprises, so that they can compete and develop anywhere and with whoever they please.
The dollar reacted rising against major Forex crossings, taking down the Japanese Yen and the USD-JPY skyrocketed to settle above the 113 yen per dollar while the Nikkei 225, which is the main index Tokyo Stock Exchange, recorded an increase of 1.44% at the end of the Asian session.
The dollar rose against the Euro, pushing common currencies down to a psychological level of $ 1.06, which was at the meeting we were referring to. The EUR.USD, fell by 0.35% at the end of the Asian session to settle at the level of $ 1.0540 per Euro.