US Dollar Rebounds Slightly After Trump Assassination Attempt

Here’s this week’s overview of the US Dollar:

• In the past week, we saw the US Dollar Index decline by 0.6% against a trade weighted basket of its peers.

• Global markets responded positively to the news, with stocks and credit lifting and a clear shift away from the safe haven dollar.

• Another major piece of news which made headlines globally was the assassination attempt on Trump which triggered a small dollar rebound, but this has failed to dent investors’ optimism.

• A first interest rate cut from the Fed in September is now fully priced-in by markets, with either one or two additional cuts before year end regarded as highly likely.