💵🔻Volatile Week For The Dollar Ends In Losses: Cable FX Macro

• The dollar is posting a second consecutive weekly loss after major central bank decisions. Declines were contained, the Cable FX Macro Dollar Index finished the week down 0.8%, off its worst levels

• In the G10, high-beta led the pack as NOK, AUD, GBP posted gains around 1.5% vs the dollar. The Norges Bank, the BoJ, and the BoE decided on policy this week. The RBA is next to hit the stage

• Underperforming the group, low yielding franc and yen ended the week in losses against the USD. The Japanese yen gave up 2.2%, its worst 5-day period since April. The BoJ left policy unchanged and governor Ueda stated that the central bank is in no rush to lift rates further

• Traders demand for JPY topside was trimmed, risk reversals now stand at 108bps in favour of USD/JPY puts vs 200bps a week ago. Volatilities were offered on the week, even the Mexican peso structure saw signs of relief