FX Handover: Dollar Down for Fourth Day

A summary of news and snapshot of moves ahead of the US session.

  • US dollar extends losses, with the Dollar Index now on its 4th down day following a dovish Fed meeting last week. This has allowed commodity dollars to top the leader board in a quiet day for data, with gold and Bitcoin also extending gains.
  • European stock markets lower – it has been an edgy session with investors looking ahead to a meeting between Presidents Donald Trump and Xi Jinping on the side-lines of the G20 summit later this week after the recent escalation in US-China trade dispute.
  • Trump said the US could impose major new sanctions on Iran on Monday, although he also indicated the US government is prepared to hold talks without preconditions as he knows there’s not much left for the US to target.

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