Posted by on January 3, 2017 2:23 pm
Tags: , , , ,
Categories: China Currency Currency basket Economy Foreign exchange market

The better than expected Manufacturing data in the US has promoted further USD buying, sending the USD Index above 2016 highs back to it highest since Dec 2002.

The USD has taken out recent highs…

And EURUSD has plunged through 2016 lows to its weakest against the USD since 2003…

(note the spike and weakness since China adjusted its currency basket weightings)

Leave a Reply

Your email address will not be published. Required fields are marked *