The U.S. dollar was a net loser on the week thanks to a combo of early global risk-on vibes (as the economies around the world slowly re-opened), gloomy economic updates in the U.S., and more Fed stimulus.
A geopolitical flare up did bring back some buyers on Friday, but not enough to recover the a losing week for USD bulls.
Big spike lower in the Greenback against some of the majors during the U.S. session, likely on the round of negative U.S. economic updates, and possibly on the month-end fixing portfolio managers have to make to portfolios.
Wall Street slides at open as Trump warns of new tariffs on China – the Greenback somewhat bounced back during the Asia session off of these headlines, falling into its “safe haven” role before the end of the week. Unfortunately it wasn’t enough to bring USD into the green against any of the major currencies to become the biggest loser of the week.
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Every day, I will present to you my findings and daily commentaries on what recently happened in the economic arena, possible shifts in sentiment, economic events to watch out for, and their effects on currencies.