-
Funding Currencies Reign, Aussie Succumbs
The Australian Dollar is by far worst performer as the week comes to an end with the market realizing that the big miss in the Australian employment report, alongside soft economic activity in China and struggles to seal the US-China trade deal, is a setback for the RBA to remain on hold as the odds of another rate cut soar by early next year. In stark contrast, the Yen and the Swiss Fran keep attracting the most buy-side flows as the macro picture remains supportive with weekly demand levels in control. The decline in global yields in the last 24h as the US and China hit a snag in the prospects for a quick ... (full story)