NY Open: Watching paint dry
Traders are on tenterhooks ahead of the release of the latest FOMC meeting minutes later today. They shouldn't bother. Fed board members have repeatedly flown the dovish flag in recent days, so why expect surprises?
Head of FX Strategy
Summary: The Xi-Trump agreement to press the pause button on their mutual showdown over trade has triggered a global risk-on celebration. In reaction, the US dollar is weaker across the board, particularly versus the commodity dollars and emerging market currencies.