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The US dollar was seen posting some moderate gains on Tuesday. This marks the first bullish close since the previous four consecutive bearish declines. The G20 summit is due to start over the week where President Trump and China’s Xi are due to meet.
Global yields continued to fall. St. Louis Fed Chair, Bullard hinted at a 25bps rate cut at the July meeting. The RBNZ held its monetary policy meeting in the overnight session and left the official cash rate unchanged at 1.50%. However, the RBNZ hinted at more rate cuts over the course of the next few months.
Euro Losses at 1.1400 Handle
The common currency was bearish on Tuesday just after the rally pushed the currency to the 1.1400 handle. The declines come amid any major economic news out of the Eurozone. Italy’s deficit continues to remain one of the prevailing narratives. However, the declines in the euro came due to a stronger greenback which is on track to post ...
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