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King greenback was again on high this week

The US greenback was the highest performer this week

king dollar

The US greenback rebounded this week. Sadly it wasn’t as a result of surging US fundamentals or an upbeat outlook. As a substitute it was a results of threat aversion and greenback inflows particularly on stumbling rising markets.

Together with that, the yen and Swiss franc joined the US greenback on the high of the heap.

” We scale back publicity to EM. We flip to a defensive stance, shopping for JPY which may benefit from repatriation flows if threat urge for food falls. The EM rally has decreased the attractiveness of EM valuation as positioning has turned lengthy EM,” Morgan Stanley wrote in a word at the moment.

The underside of the pile was the commodity currencies. The Canadian greenback received a respite from robust knowledge on Friday however poor knowledge and dovish central banks torpedoed the New Zealand and Australian .

FX performance chart

The AUD/USD chart at the moment is an fascinating one. It broke beneath the late-January low briefly however is again above. That stage is zero.7076 and it is one to look at into the shut.

AUDUSD chart
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