USD continues post-Pompeo slide after better US data
Erik May 28th, 2020
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- Dollar goes bid yesterday after Pompeo confirms Hong Kong no longer autonomous from China.
- PBOC sets another weaker than expected daily USDCNY fix in a bid to stabilize the yuan.
- Markets celebrating another week-over-week decline in number of new US Jobless Claims.
- US Durable Goods Orders falls more in April vs March, but fall less than expected.
- Off-shore dollar/yuan continues to slide into NY trade, now trading below 7.1550s.
- EURUSD and AUDUSD hold bullish momentum after NY closes above 1.0990s and 0.6610s.
- GBPUSD rescued by USD sales. USDCAD can’t regain 1.3780s. USDJPY marred by option expiries.