It’s been awhile since I’ve written that
It has been a struggle for the US dollar for many weeks despite a solid economy and Fed rate hikes.
But this week, a lower temperature in trade talks and a rise in Treasury yields put the crown back on the dollar. It was the best G10 performer, edging out the yen.
On the flipside, the New Zealand dollar has quietly been getting hammered. NZD/USD made a complete U-turn on the month-to-date gains and is now testing support. A break of the March low would put the pair at the lowest since the first week of the year.