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
FX Markets Weekly Wrap Dollar rebound has further to run despite Tariff Man The US dollar is ending the week a touch stronger as President Trump continues to ratchet up his tariff threats again and US interest rate expectations edge higher. As widely expected, the 9th July... 11th July 2025 · 5 mins read
FX Markets Weekly Wrap FX Weekly: Solid payrolls provides only limited relief for the dollar The US dollar has stabilised to a degree this week after another solid non-farm payrolls report generated a bit of a rebound in US interest rate expectations. The bigger picture remains that the... 4th July 2025 · 5 mins read
FX Markets Weekly Wrap FX Weekly: A decisive moment for the dollar? The US dollar has generally lost further ground this week and the DXY index currently sits at around its lowest level since February 2022. This index has now fallen by more at this stage in the year... 27th June 2025 · 5 mins read
FX Markets Weekly Wrap Fed more likely to boost the dollar than Mideast conflict The dollar has made some further gains this week, on net, but remains not far off its weakest level in three years. It has mainly benefitted on the back of a somewhat hawkish FOMC announcement, which... 20th June 2025 · 5 mins read
FX Markets Weekly Wrap FX Weekly: Middle East escalation offers a lifeline for the dollar The dollar has recovered some of the ground it lost earlier in the week in the wake of Israel’s overnight strikes on Iran. While that still leaves the greenback near its lowest level in more than... 13th June 2025 · 6 mins read
FX Markets Weekly Wrap FX Weekly: US dollar remains on edge The US dollar is enjoying a strong end to the week thanks to signs of economic resilience in the latest US Employment Report but, for the second week in a row, the DXY Index is little changed on net... 6th June 2025 · 5 mins read
FX Markets Weekly Wrap The greenback just can’t catch much of a break The dollar has stabilised overall this week amid continued uncertainty around US trade policy and questions around the fiscal package that is still working its way through Congress. Market... 30th May 2025 · 5 mins read
FX Markets Weekly Wrap FX Weekly: Dollar falters as fiscal and trade policy concerns grow President Trump’s recommendation of a 50% tariff on the EU gave the dollar only a short-lived boost and the DXY index is still on track to snap a four-week ‘winning’ streak. This looks likely to be... 23rd May 2025 · 5 mins read
FX Markets Weekly Wrap Trade truce keeps the greenback on the front foot, mostly The de-escalation in the US-China trade war gave the dollar a renewed boost against most G10 currencies this week. But, a fall back in Treasury yields has taken away some of those gains as we head... 16th May 2025 · 5 mins read
FX Markets Weekly Wrap Wait-and-see FOMC gives the dollar some respite The dollar has edged higher against most major currencies over the week as a whole, supported by the FOMC’s pushback against expectations of policy easing in the near term. The turmoil in some Asian... 9th May 2025 · 5 mins read
FX Markets Weekly Wrap “Heads I lose, tails you win” for the dollar The dollar is ending the week on the backfoot, despite the ongoing normalisation and returning risk appetite across financial markets, as well as a generally decent set of US economic data. Somewhat... 2nd May 2025 · 5 mins read
