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The Dollar has continued to trade mixed, approaching the New York interbank open at near net unchanged levels versus the Euro, while trading firmer versus the Yen and lower against the Australian and New Zealand Dollars. EUR-USD settled near 1.1200 after printing 18-day high at 1.1249. Read more
High volatility has been the flavour of the day, with the Yen dropping sharply after posting fresh trend highs during the Tokyo AM session. The Japanese currency's highs were seen after U.S. Treasury Secretary Mnuchin officially stamped China as a currency manipulator, while the Yen's fallback was see after the PBoC produced a lower than expected USD-CNY fixing, at 6.9683, which followed a statement by the central bank governor, Yi Gang, that Beijing will stick to commitments "not to use exchange rates for competitive purposes." USD-JPY surged to a rebound high of 107.09 after earlier printing a seven-month low at 105.52. Read more
The Dollar lost ground in N.Y. trade on Monday, the move driven largely by ramped up expectations for a September Fed rate cut, following the escalation of the U.S./China trade war. China's devaluation of the yuan, along with its cessation of purchasing U.S. Read more
The Dollar has been trading mixed amid a risk-off backdrop, which has seen the safe-haven yen outperform and the commodity-correlating Dollar bloc currencies, along with a good many developing world currencies, underperform. China's Yuan fell to an 11-year low below the politically sensitive 7.0 to the dollar level, which the PBoC blamed on "trade protectionism," and which has the potential to mark the point at which the trade war goes from simmering to boiling. Read more
The Dollar has been trading mixed amid a mixed off backdrop, which has seen the safe-haven Yen outperform and the commodity-correlating Dollar bloc currencies, along with a good many developing world currencies, underperform. China's Yuan fell to an 11-year low below the politically sensitive 7.0 to the dollar level, which the PBoC blamed on "trade protectionism," and which has the potential to mark the point at which the trade war inflects from simmering to boiling. Read more
The Dollar ended lower in N.Y. on Friday, rallying briefly following a decent July jobs report, later heading lower on end-of-week position squaring. Trade, factory, and confidence figures were mediocre. Yields and Wall Street headed lower again on ongoing U.S./China trade concerns. Read more
OVERVIEW The US President surprised the business community, stock and currency markets by escalating tariffs on Chinese goods The UK Conservative Party majority is now down to one seat after pro-EU Liberal Democrat Jane Dodds defeats Chris Davies Canadian dollar down to a two-month low as oil prices continue to sink HIGHLIGHT The US Treasury surprised the market after announcing new taxes on Chinese imports. Read more
OVERVIEW The US President surprised the business community, stock and currency markets by escalating tariffs on Chinese goods The UK Conservative Party majority is now down to one seat after pro-EU Liberal Democrat Jane Dodds defeats Chris Davies Canadian dollar down to a two-month low as oil prices continue to sink HIGHLIGHT The US Treasury surprised the market after announcing new taxes on Chinese imports. Read more
The Dollar has traded mixed since President Trump's launched a fresh advance in his trade war with China, to which Beijing responded today by threatening countermeasures if the new tariffs are implemented. The biggest mover has been AUD-JPY, which plummeted by over 2% since Trump's announcement yesterday in extending to levels not seen since the flash crash of early January. Read more
The Dollar has traded mixed since President Trump's launching of a fresh advance in his trade war with China, rising versus the underperforming Australian buck while losing ground to the outperforming Yen, and softening moderately in the case against the Euro. Read more
