XE Market Analysis: Asia – Jul 29, 2019

The Dollar index rallied to near two-month highs of 98.16 in N.Y. morning trade on Monday, later easing back to 98.05 into the London close. There was little in the way of incoming U.S. data, with the only item on the docket being the Dallas Fed index, which improved slightly as expected. There was no USD reaction to the data. The FX market was relatively quiet overall, as traders begin to gear up for Wednesday’s FOMC announcement, where a 25 basis point rate cut is universally expected. Until then, we expect the major Dollar pairings to consolidate near current levels.

Source: XE news feed
XE Market Analysis: Asia – Jul 29, 2019