XE Market Analysis: Europe – Jun 26, 2019

The Dollar has steadied after rising late yesterday at the prompt of remarks from Fed Bullard who, although a dove by reputation, said that a 50 bp rate cut in July would be “overdone.” This was taken by markets as a walk back of aggressive easing expectations. While giving the dollar a lift, the remarks nudged Treasury yields higher and pushed Wall Street lower. The S&P 500 closed 0.9% for the worse. U.S. index futures and Asian stock markets have been mixed in a sputtering price action after rallying strongly last week.