The US dollar stalled this morning as lingering global trade tensions curbed its capacity to bounce back from recent lows. The US dollar recovered slightly from the five-week low as concerns of a trade war were eased by optimistic news that US and China have agreed to negotiations.
Closer to home, the Australia and New Zealand dollars nursed losses this morning after a sudden reversal in Wall Street’s stocks soured risk appetite and pulled local long-term bond yields to their lows for the year so far. Fiji dollar strengthened against both Australia and New Zealand dollars by 39 basis points and 6 basis points respectively.
Upcoming US data for today includes the quarterly Gross Domestic Product Annualized and Core personal consumption expenditures data for the 4th quarter.
Everyone is looking forward to the long weekend and it will be interesting to see how the US data releases will affect how the Fiji dollar opens against the currency basket in the morning.