US Dollar Heading Toward 5 Month Lows

#dollar #Fed #FX


The Buck clung to minor gains Wednesday, edging up from a 5-month low Vs peers, as a pickup in US manufacturing kept bets alive for a quicker normalization of Fed policy.

.DXY measures the Buck against 6 peers is hanging just below 90 after dipping to as low as 89.662 Tuesday as it moves towards the lowest since 7 January at 89.533.

EUR traded at 1.22 after pulling back from near a multi-month Top overnight, when it climbed to 1.22545.

Investors were also eyeing the trajectory of China’s recently Bullish RMB Yuan. It was little changed at 6.3823/dollar in offshore trading, after retreating from a 3 yr high of 6.3526 Monday as policymakers took steps to cool its advance including raising banks’ FX reserve requirements.

Sterling remained lower at $1.4135 after easing off a 3-yr high of 1.4250 reached Tuesday, while the Canadian dollar traded at C$1.20675 per Buck after rallying to a fresh 6-yr high of C$1.2007 overnight as Crude Oil prices rose.

The  Australian and New Zealand dollars fell, down 0.4% and 0.5% respectively Vs the Buck

Cryptocurrency Bitcoin traded 1% higher, just above the 37,000 mark, while Ether traded 1.5% higher at 2675.71.

Have a healthy day, Keep the Faith!