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US Dollar Talking Points:

The final trading day of August is here, and it’s been an eventful month.

The Fed cut rates for the first time in over a decade on the final day of July, and this gave the risk trade a running start into August price action. But, when cutting rates, the bank wasn’t sounding very dovish, pitching that rate cut as a ‘mid cycle adjustment’ rather than a prolonged trend of softening, and in response the US Dollar[9] put in a fairly vigorous rate cut rally on the back of that meeting. [8]

A day later, the stakes were raised in the ongoing US-China Trade War when President Trump announced more tariffs on China. This perched the US Dollar back down, driven by the thought that even slower growth projections on the back of heavier trade war tensions would push the Fed into a more dovish spot in the not-too-distant future. But along with the fall in the US Dollar on the back of this theme, stocks dove along with

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