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We saw USD supported last week, lifted by the rise in UST
yields (10Y UST yields had risen from 2.08% on 26 Jun to 2.39% at the
point of writing). At the same time, the hawkish tilt to the policy tone
of the central banks of the EU, UK and Canada also lifted global yields.
This has led to support for other G7 currencies at the expense of the USD
but USD strength against Asian FXs. The two weeks ahead could be choppy
for the USD given a slew of US data and Fed speaks ...
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