The greenback opened the week on the front foot yesterday after US Treasury Secretary Steven Mnuchin said that the US and China decided to put a trade war “on hold”. Nonetheless, the currency started to reverse the gains during the European morning, and actually ended the day in the red. In Italy, Five Star and League decided who will carry forward their spending policy agenda as the new PM.
USD Opens Strong on US-China Headlines; Ends the Day in the Red
The US dollar ended the day lower against all but one of other G10 currencies yesterday. The main gainers were SEK, NOK and AUD in that order. The only currency that failed to outperform its US counterpart was the British pound. Sterling stayed under pressure, perhaps after Scottish First Minister said on Sunday that she would consider another independence referendum when there is more certainty over Brexit. Ahead of important UK economic releases, like the CPIs on Wednesday and GDP data on Friday, GBP traders are likely to turn attention to the restart of Brexit talks in Brussels today.
The greenback opened the week on the front foot yesterday following headlines around the US-China trade front. Over the weekend, US Treasury Secretary Steven Mnuchin said that after talks in Washington, the world’s two biggest economies decided to...
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