The dollar is lower across the board as sellers build on last week's momentum
Trump offering more bark than bite on China actions over the Hong Kong issue certainly isn't helping but flow momentum continues to go against the dollar, even as the move last week owed to purported month-end rebalancing.
But when you look at the charts, things aren't looking overly optimistic.
EUR/USD is challenging the late March highs and you have the likes of AUD/USD and NZD/USD breaking to highs not seen in nearly two-to-three months now.
When you look at the dollar index chart (using the BBDXY chart here), the technical breakdown below support from the March and April lows itself isn't too encouraging either.
As the market looks to normalise further amid coronavirus developments, the weight of the Fed's easing policies is starting to really be felt by the greenback at the moment.
One wonders how Trump's message of now being "a great time to have a strong dollar" fits into all of this but I guess he has more pressing issues to worry about than this for now.
