 Yen and Swiss Franc ended as the strongest ones last week. They're partly supported by lack of clear indication of imminent easing from respective central banks. There was additional buying on a pessimistic turn on US-China trade talks. Dollar ended mixed after Fed's hawkish rate cut. Theorectically, Fed should be done with its mid-cycle adjustment. But the path ahead is still heavily dependent on developments on trade, global slowdown and domestic data. On the other hand, New Zealand and Australian Dollar were the weakest ones. In particular, job data in Australia affirmed the case for another RBA rate cut, probably next month. Sterling was the next weakest after it pared back some of recent gains, reduced no-deal Brexit risk. |
