XE Market Analysis: Europe – Jul 11, 2019

The USD posted fresh lows during the pre-Europe session in Asia as markets continued to readjust Fed easing expectations in the wake of Chairman Powell’s testimony yesterday, which was consistent with a 25 bp rate cut at the end of this month with an addendum stipulating that the Fed has the tools needed and could use them “aggressively” if necessary. The narrow trade-weighted USD index (DXY) has declined by about 0.6% over the last day, earlier printing a six-day low at 96.90, while EUR-USD rose to a six-day high at 1.1280 and USD-JPY posted a six-day low at 107.86. The…

Source: XE news feed
XE Market Analysis: Europe – Jul 11, 2019