Thoughts on EUR, AUD, GBP and USD
January 31st, 2019
EUR – bank problems, CPI risk, stronger real yield spread, stable sovereign risk.
USD – lower real yields, payrolls unlikely to help the dollar.
GBP – Brexit uncertainty extended, no deal risk lingers, but still very low.
AUD – commodities stronger, commodity currencies strong, trade talks sound positive, global risk factors have been the main driver, Bank shares weak, RBA policy tweak risk.
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