XE Market Analysis: Asia – Jul 10, 2019

Fed chair Powell all but confirmed a rate cut later this month, as he spoke in dovish tones in testimony to the House Financial Services Committee. Short yields dove, while Wall Street rallied, and the Dollar headed lower. The DXY fell from over 97.45, to a low of 97.06 through the morning session. EUR-USD topped over 1.1260, while USD-JPY headed under 108.45 from early highs near 108.95. USD-CAD initially fell under 1.3070, though rallied to 1.3143 highs after the BoC revealed trade and investment concerns.[EUR, USD]

Source: XE news feed
XE Market Analysis: Asia – Jul 10, 2019