Fresh market optimism has weakened the safe-haven demand for the dollar this morning, causing it to weaken.
This is due to hopes that PMI data for June, which is due to be released later today, will show a significant improvement. It is likely to reflect the reopening of the economy after lockdown, however, may not fully take into account the recent ‘rollback’ of easing due to a spike in infections.
They’ll be a series of data for the US this week, as well as speeches from Federal Reserve Officials tomorrow.
For more on currencies and currency risk management strategies, please get in touch with your Smart Currency Business trader on 020 7898 0500 or your Private Client trader on 020 7898 0541.
