💵➖Choppy Dollar Trading On Heavy Central Bank Docket: Cable FX Macro
- Rosbel Durán
- Sep 25, 2023
- 1 min read
Our own measure of the dollar <.RDDXY> didn't gain much directional traction as we headed into the FOMC meeting. Heavy trading kicked in on Wednesday to see losses reverse on the news
The week saw mixed dollar trading as high-beta currencies posted relative strength. In a previous post, we noted currencies' relationship to oil strengthening while the correlation to equities faded
G10FX performance caught my attention as risk assets posted sharp drops on the week, this failed to kick in risk off trading among the group despite the rise in volatility
Our measure of the dollar rate advantage <.RDDXYIR> spiked on the FOMC, however, the rise was pared and finished up 3.19 index points on the week
GBP, CHF, and JPY underperformed the group. Last week's docket held central bank announcements from the Fed, BoE, SNB, BoJ, Norges Bank, and the Riksbank
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