FX Files – The Slow Drag of Summer

FICC Strategy Reports

It will be a relatively quiet session with only tier two data in the US, and no Fed speakers. The greenback starts the session near unchanged with the DXY at 99.64 (0.0% OTD). Oil prices continue to climb as hopes of a peaceful resolution in the Middle East recede. Yesterday Trump showed disinterest in extending the MOU with Iran, which expired yesterday (Aug 17th). Instead, the US is exploring the use of economic pressure on Iran, which would potentially mark a new strategic pivot in the conflict.

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