Successful Treasury Auction, Fed Comments Push USD Down

Note  The table above is updated before publication with the latest consensus forecasts. However, the text charts are prepared ahead of time. Therefore there can be discrepancies between the forecasts given in the table above and in the text charts. 

Rates as of 0500 GMT

US politics 

I thought that with the Electoral College vote over, we could forget about US politics for a while and go back to worrying about inflation and unemployment and Fed bond purchases, normal things like that insofar as the FX market is concerned. Boy was I wrong! 

I cant believe whats going on in the US. Illegal campaign contributions, cozying up to Russia, putting children in cages, using US foreign relations to get at his political enemies, cheating on his taxesnone of this bothered the Republicans, but now that corporate donors are talking about withholding donations, theyre starting to bail. After VP Pence refused to trigger 25th Amendment proceedings to remove Trump from office, the Democrats are going ahead with the resolution to impeach him again. Five Republican representatives have said theyll vote to impeach, and many more are expected to do so. Notably, the Republican leadership is not taking any steps to encourage people to vote against it. Itll pass.  

As for the Senate vote, theres some question about whether they can convict him after he leaves office the Senate is now in recess and wont return until the 19th, so unless they recall the Senate its impossible for them to…

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