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Currency Market Outlook - August 2020

Our August 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: Dollar-negative political uncertainty could rise as America’s presidential election in early November draws closer.

SGD:   SGD, like many other regional Asian currencies, will remain driven by global risk appetitive. Any weakness in global sharemarkets could pressure the SGD.

CNY:   Chinese industrial production, due on 14 August, will be closely watched for signs of the Chinese recovery.

AUD:   The AUD was supported by the large rise in precious metals last week with gold’s climb to nine-year highs and silver’s move to seven-year highs driving the AUD.

MYR:   The MYR remains sensitive to fluctuations in the oil price. Oil, along with gold and silver, saw big gains in July.

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