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Currency Market Outlook - July 2020

Our July report outlines the key events and drivers that our analyst team expect to impact FX currency markets in the weeks ahead.

Written by Steven Dooley, Currency Strategist - Asia Pacific

Highlights include:

USD:  U.S. second quarter growth, due in late July, is forecast to show the world's top economy took an unprecedented plunge of at least 30%

SGD:  The SGD's fate will remain tested by relations between US and China. As a major trading hub, trade relations between these 2 powers remain key.

CNY:  The USDCNH market remains focused on the major 12-year highs at 7.2000. A move above this level might see further CNH losses.

AUD:  The AUD gains have been boosted by gains in global share markets. Any reversal in equity market sentiments might pressure the AUD.

MYR:  The Malaysian central bank, the Bank Negara, meet on 7 July and might see a focus on restraining recent MYR gains.

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