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USD Pressured After PBOC Fix

FOREX

The greenback is pressured after the PBOC fixed the Yuan at a stronger than expected level. USD/CNH has erased early gains to deal ~0.2% lower.

  • The Antipodeans are outperforming in the G-10 space. NZD/USD is up ~0.3% and sits a touch under the $0.61 handle. AUD/USD is also ~0.3% firmer and has firmed above $0.66 to last print at $.6615/20.
  • Elsewhere in G-10, EUR remains little changed dealing in a narrow range. GBP is ~0.1% higher.
  • Australian May Retail Sales cross at the bottom of the hour.

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