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Currency Market Analysis

Jun 12, 2018 | Currency Market Analysis

Global Themes

US weakens as NK summit looms

The USD remained pressured on Monday night as markets look ahead to the major week of geopolitical and economic events.

Today’s summit between the US and North Korea is seen as critical for financial markets this week.

The greenback’s weakness saw the USDSGD fall 0.1%.

Safe havens pressured

With the US dollar lower, other safe haven currencies also fell.

The Japanese yen fell 0.5% while the Swiss franc lost 0.1%.

The British pound lost ground after UK manufacturing fell to the lowest since 2012 as the Brexit impact hits further.

Summit in focus

Today, all eyes will be on the US-North Korea summit, with the initial discussions kicking-off at 9.00am.

While Trump’s summit will drive headlines, the real story this week is the US Federal Reserve and European Central Bank. Both are moving towards tighter policy and, in both cases, these move suggest gains for the USD and EUR.

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