US FX Handover – 24 April 2019
April 24, 2019 3:50 PM
See a summary of the top FX themes and trends from today's US session!
- The Bank of Canada left interest rates unchanged but dropped its hawkish bias, leading USD/CAD to break out of its symmetrical triangle pattern, a development we hinted at in today’s Asian session.
- The US dollar was once again the strongest major currency, with the Dollar Index breaking above the resistance level we highlighted yesterday. EUR/USD hit a 22-month low below 1.1175, hurt by weak German IFO figures.
- Even USD/JPY nudged higher, despite a headwind from bond yields ahead of tonight’s BOJ meeting.
- The aussie was the weakest major currency after a big miss in quarterly CPI data.
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