Over the weekend President Trump said that the US dollar is too strong. Whilst there was an initial reaction when markets opened, this was faded and we view that the greenback is likely to stay strong due to stronger US treasury yields and weaker global yields. I.e. the dollar is the beneficiary of weak global growth. We note that this is not the first time that President Trump has tried to talk down the dollar but as long as the US economy remains strong on a relative basis, the greenback is likely to outperform.
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RBA widely expected to keep key interest rate unchanged amid persisting price pressures
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