MARKET SHIFTS TO USD STRENGTH BIAS
• USD—biased for strength as market interprets FX implication of Fed.
• CAD is weaker after Gov Poloz keeps core of BoC message unchanged.
• EUR is weaker but within range as market focus ignores growth, politics and EU vulnerabilities. G20 FinMin begins today.
• GBP flat after better than expected retail sales & Wed’s BoE minutes.
• JPY is weak leading into the weekend elections.
• AUD is weak as S&P reaffirms AAA/stable, but warns on household debt levels and risk of declining commodity prices.
• CNY within range as property prices show minor changes from May.
Read the full report: FX Daily
Scotiabank