💱⚖️ FX Sensibility to Rates Higher Since June: Cable FX Macro
- Rosbel Durán
- Sep 16, 2022
- 1 min read
Sensibility to rates measured as BBDXY weighted spreads vs dollar index historical prices saw an increase since mid-June
So far this year, 2-yr spreads have not favoured the G10 as the kiwi is the only currency to hold an advantage to the dollar short-term yields, CAD down 7bps
Most differentials read below the 100bps mark, favouring the dollar. The JGB-Treasury spread is practically at 400bps, the widest since 2007
We have seen these negative spreads reflected in underperformance vs the dollar, while relative strength is noted tighter spreads
In an G10FX + MXN, BRL, and CNY ranking, we see the real leading the group in YTD % spot performance while the yen bottoms the chart
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