Broad dollar weakness continued after a.......>

FOREX: Broad dollar weakness continued after a risk on Asian session, in which

Trump made some more positive comments surrounding a Chinese trade deal.

European stock markets opened higher and S&P futures retraced some of the past

few week's losses. However, DXY's sell-off paused in the face of some

weaker-than-expected European PMI data and is showing some signs of stabilising

ahead of the New York crossover.

The European morning session also saw the release of the Riksbank Minutes which

were slightly to the dovish side and did little to steer markets towards either

a December or February hike and saw little movement in SEK.

The pound was helped by the release of better-than-expected PMI construction

data, with cable hitting session highs of 1.3041 shortly after the release.

The market is now eagerly awaiting the US nonfarm payrolls report, with MNI's

data team highlighting some downside risks to the headline number. A

disappointing report could see further downside risks for the dollar going into

the weekend. However, as we have noted previously, the sesasonals still support

a stronger US dollar by the end of November.