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Paring some gains

USD
  • FX is so far fairly steady since the Cash Govie open, after the Bloomberg Dollar index printed a record high overnight.
  • White House’s Deese doesn’t Expect Another Plaza Accord Coming.
  • In 1985 Plaza accord saw coordinated move to counter dollar surge.
  • US currency’s current appreciation has drawn 1980s parallels (bbg).
  • The kiwi is still the worst early performer, but off its low, albeit still down 0.74% in early European trade.
  • NZDUSD tested its lowest level since 2020, below 0.5600, now at 0.5594 from a 0.5565 low.
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