The Greenback started the week on the back foot following alleviated concerns surrounding the US political backdrop after President-elect D.
Trump unveiled his pick for US Treasury Secretary. Also weighing on the US Dollar emerged news citing potential ceasefire negotiations in the Middle East. Here is what you need to know on Tuesday, November 26: The US Dollar Index retreated to two-day lows and revisited the 106.60 region on Monday. A busy US docket will feature the FOMC Minutes as the salient event, seconded by the FHFA’s House Price Index, the S&P/Case-Shiller Home Price index, and New Home Sales.
The CBI Distributive Trades will take centre stage across the Channel. The sharp drop in the Greenback coupled with declining US yields across the board accompanied the move lower in USD/JPY, which retested the mid-153.00s. Next on tap on the Japanese calendar will be the usual weekly Foreign Bond Investment figures on November 28. AUD/USD trimmed initial losses and managed to regain the 0.6500 yardstick and eventually end the day with humble gains.
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