CGM Weekly FX Video Update – 21st November 2017


US Dollar is a tad higher and moves remain limited due to the ongoing deliberations for tax reform. Market awaits tomorrow’s Fed meeting minutes before market’s close for Thanksgiving. A$ is at a 5 month low vs US$ as the yield difference between Australian and US bond rates continue to narrow. RBA minutes confirm that interest rates remain on hold. Market is wary of Gov Lowe’s comments in SYD tonight anticipating high household debt, record low wages growth and weak inflation spiel.

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