Free Trial

USD held firm on Monday, driving NZD & AUD....>

FOREX
FOREX: USD held firm on Monday, driving NZD & AUD to fresh YTD lows
- The USD retained a broad-based bid tone through NY on Monday which saw the DXY
reclaim 95 and Gold fall to 7 month lows.
- Commodity based currencies in particular suffered, AUD & NZD remained at the
bottom of the G10 pile. AUD/USD touched fresh YTD lows of $0.7311, NZD/USD
traded through $0.6700 for the first time since May 2016. NZD/USD last operates
just above the figure following a 7-Year low in the NZIER Business Confidence
metric.
- EUR/USD continued its descent to briefly make a show under $1.1600, before
staging a modest recovery and popping late on as Germany's CDU & CSU parties
came to an agreement re: migrants, peaking at $1.1648.
- GBP/USD dipped under $1.3100, but later recovered to the $1.3130/35 area.
- MXN's woes persisted, after wiping out the initial post-Presidential election
gains as it looks more and more likely that AMLO's socialist party may achieve a
majority in both houses.
- The RBA & Riksbank MonPol decisions provide the main risks on Tuesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.