NY Open: Twenty pounds of headlines
Markets started the day in a confusion of incoming news as ECB chatter met with trade talk updates and US macro data. EURUSD took it on the chin and dropped from 1.1270 to 1.1235.
Head of FX Strategy
Summary: The RBA’s Lowe caved on his former optimism in a speech overnight and we wake up to a crushed Aussie. Elsewhere, the yen also came back overnight, following US Treasury strength and it all feels like a bit of a theme shift toward risk-off.