The US dollar (USD) is weak and losing ground compared to all the currencies of the G10, while showing marginal gains against the MXN, says Shaun Osborne, head of FX of FX of Scotiabank.
The USD is widely weakened by commercial holders
“The distribution of the yield of the G10 currencies is varied, however, with a remarkable strength in Europe and a higher performance for SEK, Chf, Nok and Eur – all rising about 1% in the day. JPy is an average yield with a gain of 0.7%, while NZD and CAD only rise 0.3% and GBP and AU USD initially caused by President Trump’s comments when talking about establishing unilateral tariffs and notifying the main commercial partners in two weeks, before the deadline of July 9.
“This last round of weakness of the USD began on Wednesday, with the publication of a weaker American IPC of the expected that caused an aggressive revaluation of the relaxation expectations of the Fed. The latest negative commercial headlines for the USD have aggravated a fall of the USD drive of the USA as the US yields extend their falls driven by the CPI.
“In raw materials, oil prices have found greater support due to geopolitical concerns and the reduction of non -essential personnel of the US embassy in Baghdad as a result of increased security risks. Meanwhile, copper seems to be consolidating after its most recent bearish reversal and gold prices are finding a renewed support due to geopolitical and generalized weakness of USD.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
