The dollar was the main gainer among the G10s for the second day in a row, perhaps due to a blend of catalysts, including declining expectations with regards to a “double cut” by the Fed next week, as well as headlines surrounding the US-China trade front. In the UK, Boris Johnson was announced as the new Prime Minister, with the pound reacting very little, as the outcome was largely priced in. Focus may now turn to his Cabinet composition.
USD Keeps Sailing North Due to a Blend of Catalysts
The dollar continued to trade higher against the other G10 currencies on Tuesday and during the Asian morning Wednesday. The main losers were NOK, AUD and NZD in that order, while the currencies that underperformed the least were CAD and JPY.
Once again, the strengthening of the dollar, the decent performance of the yen, and the weakening of Aussie and Kiwi suggest a risk-off trading environment but...
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