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USD Outperforms Following Trump Assassination Attempt

FOREX

The USD is firmer against all G10 FX peers after the attempted assassination of Donald Trump, with yield differentials moving in the USD’s favour.

  • PredictIt last shows ~67% odds of Trump winning the election vs. 60% late Friday, putting focus on various “Trump trades.”
  • Trump’s immediate tone is set to lean into the idea of unity, with this week’s RNC convention to progress as scheduled.
  • Fresh USD demand has been seen in early London trade; the BBDXY is comfortably off Friday’s lows, but a little shy of Asia highs.
  • Major USD FX pairs stick within Friday’s ranges.
  • Softer-than-expected Chinese GDP data had little lasting impact on broader markets.
  • A Japanese holiday thinned liquidity out in Asia trade.
  • Looking ahead, the U.S. Empire manufacturing survey is due in NY hours.
  • We will also hear from Fed Chair Powell once again, and we may get comments from ECB President Lagarde.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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