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USD Rally Loses Steam

FOREX

Post-FOMC USD strength has proven short-lived and the greenback underperforms all of its G10 peers in early Asia-Pac trade, albeit by relatively narrow margins. Other than that, there has been little to inspire any meaningful price swings across the space.

  • NZD/USD was uninspired by the latest speech from RBNZ Asst Gov Hawkesby, who largely stuck to familiar messaging of New Zealand's central bank, noting that policymakers are preparing to use policy tools including negative interest rates if needed.
  • Focus turns to China's LPR fixing, U.S. initial jobless claims & Philly Fed Survey, Swedish unemployment, ECB Jul MonPol meeting minutes, MonPol decisions from the Norges Bank, BSP & CBRT, as well as comments from Fed's Daly, BoC's Beaudry and Riksbank's Skingsley.

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