⚖️ 💵Dollar Trades In Line With Rate Spreads: Cable FX Macro
- Rosbel Durán
- Apr 19, 2024
- 1 min read
The dollar is extending gains on Friday AsiaPac session, and while the move is currently supported by risk aversion, we are noting rate sensitivity coming back into play
We saw our measure of the dollar <.RDDXY> trading independently from front-end rate spreads for most of the first quarter. The relationship seems to have strengthened from the end of March
USD front-end rate differentials have reached the highest level since November, <.RDDXYIR> is now at 316.7, the 52-week high stands shy of 320.0
For the record, our measure of USD short-term rate spreads vs G10 peers has risen every month this year
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