FloridaBoi [he/him]

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Joined 5 years ago
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Cake day: July 29th, 2020

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  • A Bloomberg gauge of the greenback tumbled to a six-month low Friday as part of a broader exodus from US assets after trade tensions between the world’s two largest economies continued to intensify. Havens such as the yen, Swiss franc and gold benefited from the outflows.

    “Unless you think some resolution is imminent, then the market is likely stay on the current path of least resistance — a dollar exit,” said Rodrigo Catril, strategist at National Australia Bank Ltd. in Sydney. “The narrative of exiting US assets and selling the dollar is likely to persist as long as trade tensions remain elevated.”

    The dollar’s drop drove the euro to $1.1383, the highest since February 2022.