Friday 27th June 2025

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The US dollar has hit a new multi-year low. Phil talks to NAB’s Rodrigo Catril about some of the factors driving the US currency down further. Part of it could be the speculation that President Trump will appoint Jerome Powell’s successor as Fed Chair, in the hope that he can guide markets early. There’s also increasing evidence of foreign investors ditching long end government and corporate bonds and taking their money elsewhere. Soft US data isn’t helping including a sizeable revision to Q1 GDP, driven down by lower consumer spending.

Today Tokyo’s CPI, China’s industrial profits, and US CPE data will also be of interest. And get ready for a week of tax and trade talk next week.

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