Dollar ended as the strongest one last week as boosted by solid economic data from the US. While markets are still pricing in full chance of a Fed rate cut this week, strong data argue against the chance of further easing after that. Euro and Canadian Dollar were the next strongest. ECB's meeting and press conference came out less dovish than expected. While ECB did open the door for more rate cut, President Mario Draghi's press conference suggested that he's not in dead urgency to deliver easing. On the other hand, New Zealand and Australian Dollar were the weakest one for the week. There were increasing expectation for more RBA rate as momentum in the Australian job market could slow, which would limit upward path in inflation. Sterling ended mixed after suffering late selling. It's now Boris Johnson's era as UK Prime Minister and we'll see how he's going to deliver Brexit on October 31 as promised. |
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