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Currency Market Analysis

Feb 13, 2019 | Currency Market Analysis

Global Themes

Greenback falls on US shutdown hopes

The US dollar fell – as so-called risk assets gained – on hopes the US government would avoid another shutdown ahead of this Friday’s deadline.

Key media reported suggested US politicians had agreed to a compromise, but the deal still requires US President Donald Trump to approve.

The US’s Dow Jones index was up 1.5%.

USDSGD lower

The USDSGD fell 0.4%.

The euro staged a strong recovery as it rebounded from 18-month lows.

The Japanese yen weakened as markets moved away from “safe haven”” currencies.

RBNZ

Today’s focus is on the Reserve Bank of New Zealand with their announcement due at the new time of midday.

The RBNZ has brought forward the announcement to reduce the chance of leaks.

The announcement will be closely watched after the RBA pressured the AUD last week by signalling the next move in Australian interest rates might be lower.


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