December 20, 2024 07:46 GMT
USD: In the Green across G10 YTD
USD
- The Dollar was overall flat overnight and going into the European session, once again the Yen is the big mover, close to 100 pips range but to the upside for today, after the Japanese Finance minister warned Market Participants regarding FX speculation moves.
- As noted in early trade, the EUR saw a small blip past 06.00GMT on Trump and Tariff risks, but the liquidity was so low and move so contained, that no conclusion could be ascertained.
- Regardless, the bigger picture is that the Dollar is King going into Year end as desks look for less cuts from the Fed going forward, with this idea confirmed by the big Hawkish Powell this Week.
- Looking at current levels, the NOK is down 11.10%, NZD 10.86%, and Yen 10.15% YTD.
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