XE Market Analysis: Europe – Jun 04, 2019

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The Dollar has remained heavy with markets in-process of discounting a 25 bp cut in the funds rate as soon as September, if not earlier. This, for now, is offsetting the dollar’s safe haven credentials, with global equity markets sputtering rather than falling precipitously in the face of ratcheting trade tensions. The narrow trade-weighted USD index has printed a seven-week low, at 97.08, in what is now its fourth consecutive day of decline. EUR-USD concurrently lifted to a three-week high at 1.1263. The Dollar has also posted new lows against Sterling and the Canadian Dollar.