DALY SEES 'NO URGENCY TO ADJUST THE POLICY RATE'

MNI BRIEF: Fed’s Collins Sees Rate Cuts Later Than Had Thought

MNI BRIEF: China March M2 Slows More Than Expected

MNI BRIEF: China Tightens Stock Market Supervision

MNI BRIEF: China Mar Exports Jump On Demand; Imports Improve

MNI: PBOC Sets Yuan Parity Lower At 7.0967 Fri; -4.87% Y/Y

MNI: BAKER HUGHES US RIG COUNT 617; OIL RIGS 506; GAS RIGS 109

March Home Sales Jumped At End Of Month

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD Rallies As White House Econ Advisor Plays Down Potential For New Plaza Accord

USD

The greenback is seemingly drawing some support from earlier comments by White House National Economic Council chief Deese, who played down the need for a Plaza-type FX accord to counter USD strength.

  • While there wasn't much hope or discussion of such a deal being in store, the market is still reacting to Deese's comments. The yen is the only G10 currency to outperform the USD, albeit by a shrinking margin.
  • Gauges of greenback strength have advanced, with the BBDXY index printing new all-time highs just above 1,358. The DXY has just printed new cyclical highs at 114.56.
  • Cable has gone offered as Deese said he "wasn't surprised" by market reaction to UK fiscal plans. The pair has now erased the entirety of yesterday's gains, with BBG trader sources pointing to fresh selling from leveraged accounts.
HomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsUS
HomepageBulletMarketsFixed Income BulletsForeign Exchange BulletsUS

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.