Ian Morley – Page 30 – Total Currency Exchange

US Dollar remains under broad pressure amid concerns over Fed independence and growing expectations of rate cuts.

Currency markets are consolidating after Tuesday’s risk rally, with the US Dollar stabilising ahead of Powell’s second day of testimony.

Markets welcomed the Israel-Iran ceasefire, triggering a broad risk rally and weakening the US Dollar.

Geopolitical tensions following the US bombing of Iranian nuclear sites have overshadowed economic data to start the week.

Currency markets remain cautious but less panicked after President Trump delayed a decision on striking Iran.

The Pound is under pressure ahead of the BoE’s decision.

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Author: Ian Morley