Not a lot of a stand for the US greenback because it slips once more

The US greenback was battered proper from the open at present however in the previous few hours it staged one thing of a bounce. It recovered round 60 pips towards the euro and half of that in AUD/USD.

Now although, the greenback is coming again below stress as long-dated US Treasury yields creep larger once more. I would not say bonds are the set off however the value motion right here is worrisome. Alongside the identical strains, gold is now +$100 on the day once more and getting ready to a brand new excessive after giving again $25 earlier.

There’s a actual and regular circulation out of US and USD property in the mean time. It is a pure vote of non-confidence.

This text was written by Adam Button at www.ubaidahsan.com.



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