The greenback is the weakest performing major currency to start the week
The movement today can be attributed to a follow through of Friday's price action following the dovish comments by Fed chair Powell. The dollar is losing ground against the rest of the major bloc to start the day.
Movement in other major currencies among themselves appear somewhat limited as the notable theme has been dollar weakness so far. Markets were already not pricing in any Fed rate hikes for this year and after Powell's comments on Friday, it can be taken as very likely the Fed will at least pause for the first quarter of this year.
Anything thereafter will depend on the state of the economy I reckon. In other markets, equities remain buoyant helped by Powell's dovishness on Friday but also as US-China trade talks continue to show optimistic signs. China deciding to cut RRR by 100 bps on Friday is also helping slightly with the mood too.
There isn't much else for markets to grip on for the time being with risk sentiment somewhat calm. Hence, expect focus to be on the dollar and how long the positive vibes in equities will last before something comes about to shake things up again.
