FX Markets Weekly Wrap FOMC strikes back; dollar rebound has further to go The dollar has continued to strengthen in the wake of a relatively hawkish message from the FOMC. Combined with a generally more neutral stance from other central banks this week, that has taken the... 31st October 2025 · 6 mins read
FX Markets Weekly Wrap Dollar still on the front foot despite soft US CPI The dollar has edged higher over the week as a whole despite the soft US CPI data released earlier today. Even so, the DXY index remains a touch below its recent peak two weeks ago, before the re... 24th October 2025 · 6 mins read
FX Markets Weekly Wrap Trade war redux & regional bank wobbles hit the dollar The dollar has fallen back a bit this week amid renewed US-China trade tensions and, over the past day or two, jitters around US regional banks. Risk sentiment has taken a turn for the worse and... 17th October 2025 · 6 mins read
FX Markets Weekly Wrap Dollar rebounds; blast from the past for yen & Argentina While President Trump’s return to the trade war path this afternoon has led to a drop in the dollar, it has risen, on net, this week – despite (or perhaps because of) the absence of most US economic... 10th October 2025 · 5 mins read
FX Markets Weekly Wrap Shutdown stasis looms for the dollar The dollar has weakened a little this week on the back of some softer US employment and activity data. The US government shutdown does not appear to have made much impact, consistent with previous... 3rd October 2025 · 5 mins read
FX Markets Weekly Wrap Dollar enjoys a broad rally The US dollar is on track to end the week stronger against most other major currencies thanks largely to investors further paring back their expectations for Fed rate cuts. Although political... 26th September 2025 · 6 mins read
FX Markets Weekly Wrap Fed puts the dollar on firmer footing The US dollar is set to end the week up against most other G10 currencies after a strong couple of days, driven by investors paring back their expectations for rate cuts after this week’s FOMC meeting... 19th September 2025 · 5 mins read
FX Markets Weekly Wrap FOMC likely to bring some relief for struggling greenback The dollar has weakened a little further this week after US inflation and jobs data again came out on the soft side. This probably cements a 25bp rate cut next week’s FOMC meeting. But we continue to... 12th September 2025 · 5 mins read
FX Markets Weekly Wrap Dollar still likely to rebound from latest payrolls setback Another soft non-farm payrolls report has put the dollar on the backfoot again, but given the extent of Fed easing already discounted we continue to think the greenback will remain rangebound over the... 5th September 2025 · 7 mins read
FX Markets Weekly Wrap Dollar not quite cooked yet A quiet month-end week has seen the dollar stabilise – in spite of the Trump administration’s latest escalation of its attacks on the Fed. The lack of follow-through after those attacks and Fed Chair... 29th August 2025 · 7 mins read
FX Markets Weekly Wrap Dovish Powell & pushy Trump halt the dollar’s rebound The dollar has given back most of its gains from earlier in the week after Fed Chair Powell’s Jackson Hole speech cemented expectations for a rate cut at the September FOMC meeting. That leaves the... 22nd August 2025 · 3 mins read
FX Markets Weekly Wrap Reassessing the dollar outlook ahead of Jackson Hole The dollar remains on the backfoot as expectations for a rate cut at the September FOMC meeting continue to solidify. We now expect policymakers will opt for a 25bp cut next month, and a cumulative... 15th August 2025 · 6 mins read
FX Markets Weekly Wrap Dollar on the backfoot ahead of key US inflation data The dollar has continued to edge lower in the wake of last week’s payrolls shock and a weak ISM reading this week as US interest expectations adjust lower. Given the extent of that adjustment – money... 8th August 2025 · 6 mins read
FX Markets Weekly Wrap Payrolls déjà vu threatens the dollar’s rebound Today’s weak US non-farm payrolls data has undone much of the dollar’s rally this week. While the DXY index is still on up the week, and ~2.5% stronger since the start of July, the increased risk of a... 1st August 2025 · 5 mins read
FX Markets Weekly Wrap FX Weekly: FOMC & payrolls likely to boost the dollar The US dollar is set to end the week lower against most other G10 currencies, with progress on US trade deals with Japan and Europe, a relatively hawkish ECB meeting, and continued headlines around... 25th July 2025 · 5 mins read
FX Markets Weekly Wrap Trump’s Fed feud threatens the dollar’s rebound Renewed concerns around the Trump administration’s attacks on the Fed’s independence have meant that while the US dollar is a touch stronger over the week as a whole, it is ending the week on the... 18th July 2025 · 6 mins read
