Fundamental OverviewThe main culprit for the US Dollar strength lately has been the rally in long term Treasury yields. The yield curve has been bear-flattening which is what you would expect with higher growth and potentially higher inflation expectations. There’s a good argument that the markets have been already positioning for a Trump’s victory which is expected to strengthen the higher growth and less rate cuts expectations. As previously mentioned, this is the trend for now and it’s generally a bad idea to fight such trends without a strong catalyst. The US Dollar will likely remain supported unless Harris wins the US elections and we get a correction in Treasury yields.On the NZD side
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