Monday, August 28, 2017

FW: [Maybank] Sink The USD



GBL: Sink The USD

Global Markets Daily
by Saktiandi Supaat

FX Research

Jackson Hole sank the USD broadly against most currencies. Most notable price action was that of the EUR, lifted at first by Yellen who did not take a hawkish tone and then by ECB Draghi who did not mention anything about the currency strength. Even as Draghi reiterated the need for caution before the central bank can remove monetary stimulus as inflation is still slow, markets chose to buy the EUR through the 1.19-figure, perhaps eyeing an opportunity for further tapering announcement...

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