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USD: The Dollar is down against all the Major, Tariffs are at the forefront

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  • The Dollar is down across the board, against all the majors going into the European Open.
  • The White House hinted last night that President Trump will announce a reciprocal Tariffs system, with some Desks speculating that this could have a negative Impact on the Dollar.
  • Despite the UK Data growth beat, the SEK was and still is the best performer within G10, up 0.59%.
  • USDSEK has now broken below the December low, to trade at its lowest level since early November.
  • Scandie Desks will look for the initial hurdle at 10.8000, and a clear break through the Latter will have Market Participants watching the 10.6811 retracement (see Chart).
  • The Swiss CPI was inline with expectation, but the early trend remains in early trade, with an Offered Dollar.

(Chart source: MNI/Bloomberg):

USDSEK Curncy (USD-SEK X-RATE) 1 2025-02-13 07-39-17
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  • The Dollar is down across the board, against all the majors going into the European Open.
  • The White House hinted last night that President Trump will announce a reciprocal Tariffs system, with some Desks speculating that this could have a negative Impact on the Dollar.
  • Despite the UK Data growth beat, the SEK was and still is the best performer within G10, up 0.59%.
  • USDSEK has now broken below the December low, to trade at its lowest level since early November.
  • Scandie Desks will look for the initial hurdle at 10.8000, and a clear break through the Latter will have Market Participants watching the 10.6811 retracement (see Chart).
  • The Swiss CPI was inline with expectation, but the early trend remains in early trade, with an Offered Dollar.

(Chart source: MNI/Bloomberg):

USDSEK Curncy (USD-SEK X-RATE) 1 2025-02-13 07-39-17