FOREX: Follow Through USD Sales Change Intraday Picture for GBPUSD
Oct-10 15:20
Follow-through USD sales on the Trump post have changed the intraday picture for GBP/USD, which has surged to briefly trade back above 1.3350, and help cool this week's USD rally somewhat.
- USD weakness not observed uniformly across G10: the same names that were exposed to the tariff disputes earlier this year are again being hit the hardest: AUD, NOK, ZAR and NZD are now the softest currencies on the day.
- Trump's pushback follows further China restrictions on rare earths this week, as well as the installation on vessel fees for China-bound US ships and a probe into Qualcomm's China operations.
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