❗️💵Dollar Posts Sixth Consecutive Week Of Gains: Cable FX Macro
- Rosbel Durán
- Aug 26, 2023
- 1 min read
Our own measure of the dollar, the Cable FX Macro Dollar Index <.RDDXY>, rose for a sixth consecutive week and is posting its longest winning streak since May 2022
The Cable FX Macro Dollar Index started the week choppy, strength was seen on Thursday and followed into Friday session. The index finished the week up by about 0.7% following gains of 1.5%
Dollar weakness was reversed after U.S. weekly jobless claims while Fed Chair Powell speech post market reaction saw the USD extend gains vs peers
No G10 currency was able to finish the week up, but there was relative strength from antipodes, the euro recorded losses of 0.7%, sterling bottomed the group at -1.2%
Our own measure of dollar front-end rate differentials saw out performance as USD yields were favoured. The <.RDDXYIR> index posted its best week since mid-July
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