Trump dollar? Trump denies obstruction of justice in FBI probe#
The president of the United States Donald Trump denied obstructing justice in the investigation of Moscow’s meddling in the US presidential election in 2016.
The wave of speculation was triggered by a tweet, according to which the president “had no idea” about the existence of conversation “tapes” with the former FBI chief James Comey, while a month earlier he threatened Comey with “compromising evidence” in case of information leakage to the press.
Confusion in testimonials may mean that Trump tried to silence the official acting with aplomb or that he attempted to conceal the records, which calls into question the president’s non-involvement in the investigation.
Important details heightened the uncertainty surrounding the investigation, provoking a sell-off in the dollar and a growth of defensive assets, particularly gold. Inconsistency in Trump’s statements turns the case against him, despite Comey’s denial that Trump was under investigation, which gives the investigators a reason to suspect the president of obstructing justice. Concerns about future details coming into light create an opportunity for long positions on gold, which is especially sensitive to changes in risk sentiment. In addition, the involvement of Trump in the investigation poses risks for the implementation of his plan for fiscal stimulation, which is definitely a bearish signal for the dollar.
The wave of speculation was triggered by a tweet, according to which the president “had no idea” about the existence of conversation “tapes” with the former FBI chief James Comey, while a month earlier he threatened Comey with “compromising evidence” in case of information leakage to the press.
Confusion in testimonials may mean that Trump tried to silence the official acting with aplomb or that he attempted to conceal the records, which calls into question the president’s non-involvement in the investigation.
Important details heightened the uncertainty surrounding the investigation, provoking a sell-off in the dollar and a growth of defensive assets, particularly gold. Inconsistency in Trump’s statements turns the case against him, despite Comey’s denial that Trump was under investigation, which gives the investigators a reason to suspect the president of obstructing justice. Concerns about future details coming into light create an opportunity for long positions on gold, which is especially sensitive to changes in risk sentiment. In addition, the involvement of Trump in the investigation poses risks for the implementation of his plan for fiscal stimulation, which is definitely a bearish signal for the dollar.
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