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Currency Market Analysis

Global Themes

It’s been a volatile week in currency markets and the US Dollar has been at the centre of the commotion. The dollar soared to fresh 1-year highs against a basket of currencies yesterday, with hawkish comments by Federal Reserve (Fed) Chair Jerome Powell providing the tailwind earlier in the week. Better than expected jobless claims data from the US yesterday also ramped up demand for the dollar as its index advanced to 95.65, the highest level since July 2017. The USD onslaught was hindered however, as US President Donald Trump complained about the Fed’s interest rate hikes strengthening the d

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