Free Trial

USD underperforming all but the AUD in the...>

DOLLAR
DOLLAR: USD underperforming all but the AUD in the G10 FX space at writing
(albeit modestly in most cases), with the JPY on the front foot after the Tokyo
fix.
- Trump's continued lambasting of Fed policy and his assumptions re: his rights
of replacing Fed Chair Powell & no need to seek congressional approval to launch
an attack on Iran (although he doesn't plan to do either at present) per
interviews with The Hill, coupled with the seemingly impending Fed easing cycle
continue to weigh on the greenback.
- The DXY's break of the 96.00 level opens the Mar 21 lows/76.4% retracement of
the Jan-May rally/Mar 20 low at 95.83/81/74. Bulls initially need to reclaim
broken uptrend support drawn from the 2018 lows (located at 96.433 today) to
regain some poise.
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.