Dollar Holds at Highs Despite Trade War WarningsPosted on 18 June 2018 by Dave Evans
Morning Report: 07.00 London
The dollar index is on the back foot, but remains at the highs despite US industry warnings on Trump’s trade tariffs. Dollar pairs are nudging above 2018 lows, with the AUD/USD making small gains.
The EUR/USD and GBP/USD made small opening gaps lower beneath Friday’s close.
The USD/CAD is peeling back from the highs after oil prices dipped Friday and the pair peaked above 1.3200 last week.
Yen pairs have a negative bias, reversing most of Friday’s gains as traders booking profits on dollar moves and money flows back into the yen this morning. The AUD/JPY looks set for its fifth day of losses however.
Coming up today
Today, we have FOMC member Bostic speaking at 18.00
At 18.00, ECB president Draghi speaks.
FOMC member Williams speaks at 21.00
Brexit negotiations continue yet we’re still not materially closer to finding out the core idea of how Britain will exist outside of the EU.