Archive for August 28th, 2020

Foreign Exchange Insights and Next Week

Next Week’s Menu: August 29-September 4, 2020

August 28, 2020

Central Banks: Monetary policy review are scheduled in Chile, Australia and Ukraine. The Federal Reserve Beige Book of regional economic conditions will be published. Clarida and Brainard from the Fed, Governor Lowe of the Reserve Bank of Australia, and Saunders, Haldane and Broadbent of the Bank of England speak publicly. British Holiday: U.K. markets will […] More

New Overnight Developments Abroad - Daily Update

Dollar Downtrend Accelerates

August 28, 2020

Powell’s speech that formally redefined the Federal Reserve’s inflation target and policy response function implies lower U.S. interest rates for longer and gave the dollar’s pandemic-related downtrend further impetus. Overnight the dollar depreciated by 1.3% against the Mexican peso, 1.7% relative to the Australian dollar, 1.2% versus the yen and kiwi, 0.8% vis-a-vis sterling and […] More