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Currency Market Analysis

Aug 18, 2017 | Currency Market Analysis

Global Themes

USD higher as markets react to Barcelona, Washington worries

The USD was stronger overnight as investors looked for safety while financial markets fell sharply across the globe.

Growing worries about the ability of the Trump administration to implement its tax and infrastructure program pressured US sharemarkets with the Dow Jones index down 1.2% and the technology-focused Nasdaq dropping 2.1%.

The terrorist attack in Barcelona also hit market confidence.

Risk off pressures SGD

The USDSGD jumped from yesterday’s lows as it climbed 0.3%.

The Japanese yen and Swiss franc were both higher thanks to their safe haven status.

The JPYSGD climbed 0.8% while the CHFSGD was up 0.6%.

The euro was lower while the British pound was higher.

US inflation looms

There’s less emphasis on economic data today with German producer prices and Canadian inflation numbers due.

Next week, the focus will on US inflation numbers and the Jackson Hole symposium of central bankers.

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