Boris and Kathy Forex Weekly – 23-04-2018 – Majors
April 23, 2018 12:05 am
The greenback rallied against all of the major currencies and experienced the strongest move versus sterling and the New Zealand dollar last week. The Japanese yen and euro were the most resilient but they did not escape the dollar’s gains. After weeks of losses and consolidation, the short dollar trade hit a brick wall as the greenback recoupled with yields, data abroad weakened and President Trump toned down his criticism of foreign nations. Looking ahead, headline risk will continue to be important but investors will also need to watch interest rates and data as we prepare for another busy week.
The greenback rallied against all of the major currencies and experienced the strongest move versus sterling and the New Zealand dollar last week. The Japanese yen and euro were the most resilient but they did not escape the dollar’s gains. After weeks of losses and consolidation, the short dollar trade hit a brick wall as the greenback recoupled with yields, data abroad weakened and President Trump toned down his criticism of foreign nations. Looking ahead, headline risk will continue to be important but investors will also need to watch interest rates and data as we prepare for another busy week.
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