XE Market Analysis: Asia – Aug 05, 2019

The Dollar lost ground in N.Y. trade on Monday, the move driven largely by ramped up expectations for a September Fed rate cut, following the escalation of the U.S./China trade war. China’s devaluation of the yuan, along with its cessation of purchasing U.S. agriculture products. Wall Street plunged, as did Treasury yields, which weighed further on the Greenback. The DXY dropped from 97.70 at the open, to a low of 97.42. EUR-USD topped out at 1.1213, up from 1.1170 at the open, and from intra day lows of 1.1114 in London morning trade.

Source: XE news feed
XE Market Analysis: Asia – Aug 05, 2019