US Dollar continued heading lower on Tuesday, entering a fourth consecutive day of declines.
President Trump’s criticism of the Fed’s raising of interest rates last Monday hasn’t been helping the USD as it heads lower against its major peers. The US Dollar index (DXY), and index measuring the strength of the USD against a basket of currencies, is currently trading at 95.47 after 15th August highs of 96.98.
US-China trade talks expected to be held mid-week, this week also were no help for the USD, as investors reportedly pulled out of the USD ahead of the talks.
The euro continues to garner support across its major peers as it rises from last week’s lows following fears that the Turkish Lira’s ailments could drag with it some European banks. EURUSD is currently at 1.1534.
Sentiment was broadly positive, gauging by the US equity performance and handover at session close on Monday. Asia was mostly positive as well so far this morning, with the Australian ASX being the only exception.
The RBA released the minutes of the 7th August policy meeting held by the Australian central bank. Minutes highlighted that there was no strong case to adjust policy rates any time soon.
