💵🔻 Dollar Posts Weekly Decline, Pares Most Losses: Cable FX Macro

• Our measure of the dollar vs G10 currencies <.RDDXY> posted the first weekly loss in seven. The greenback traded heavy since the beginning of the week before paring most of its decline

• The week was led by the antipodes as the Australian dollar rose 0.8% and the kiwi gained 0.6% to the USD. The euro and the franc were the only currencies to post losses to the dollar, however, these were marginal. Putting antipodes aside, no other currency moved by more than 1/2 of a percent

• Weakness was seen after the job openings release and was extended after the ADP labour report. Price action saw the dollar decline to two-week lows. A rebound came after EU Aug. flash CPI printed faster than estimated, dip-buying came through post ISM data

• The Cable FX Macro USD Spread Index <.RDDXYIR> didn't recover declines, the index dropped by 17 points on the week while the intra-week lows were quickly reversed on Friday session. This means that USD front-end rates lost some advantage to G10 peers