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Dollar at Session Lows Headed into Cash Equity Open

USD
  • The dollar at the weakest levels of the day headed into the cash equity open, with BBG USD Index through the overnight lows and off 0.3% on the day.
  • Move is favouring GBP/USD, with the pair nearing yesterday's highs of 1.1409 - the first upside level.
  • Similarly, USD/CNH seeing some relief, with the pair edging off the record highs printed overnight - coinciding with EUR/USD back above $0.99.
  • Moves follow that series of concerning housing data, with prices now plunging at the fastest rate since mid-2009

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