MARKET UPDATE 20-Feb-19

The US dollar slumped against its peers today in the wake of falling U.S. yields. Investors remained cautious ahead of the Federal Reserve’s policy meeting minutes due later in the session. The market will be looking for more detail on just how patient the Fed intends to be with its rate hike plan.

Meanwhile, in Australia – data released showed that wages grew at a slightly slower pace in the fourth quarter. However, salary gains at private companies were the highest in five years.

The Aussie trade is still being driven by headlines on trade talks between China and the US- a game in which the Australian economy has as much skin as any third-party.

In Europe, U.K. Prime Minister Theresa May is going to Brussels to try to minimize the pain of the UK exit from the EU. Among the biggest concerns is whether the U.K. and EU-member Ireland can avoid a hard border stop.

FX Rates 20.02.19

 

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