Mitsubishi UFJ Financial Group said that among the remaining 9 G10 currencies, the US dollar is still undervalued compared to 8 of them, which means that the market is still taking into account additional risk premiums. Influential factors mentioned by the bank include market expectations for a cease-fire in the Middle East, joint intervention between the US and Japan in the yen exchange rate, and reports that President Trump is concerned about the independence of the Federal Reserve after many conversations with Federal Reserve Chairman Kevin Walsh. Although the US dollar index rebounded slightly, it was still near a seven-week low.

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