We might be seeing a US dollar catch-up trade in Asia.
The dollar struggled in Thursday's US session even as stocks rallied and Treasury yields fell. It was a breakdown of the recent Buy America/Sell America correlation but today in Asia we're seeing signs that it's being re-asserted, albeit delayed.
The dollar is 30-45 pips stronger today against the Euro, yen, pound and Swiss franc and at the best levels in Asia so far. The gains in USD/JPY come despite a hotter Tokyo CPI report.
One of the themes going into the weekend is likely to be optimism about a US trade deal announcement: Perhaps with India or more broadly. That should be a tailwind for the 'Buy America' trade, though stocks have been rallying on that for three days already.
There could also be some help from the stock market with S&P 500 futures up 0.4%, led by a 4.8% rise in shares of Alphabet following earnings.
This article was written by Adam Button at www.forexlive.com.Hence then, the article about us dollar firms in a rebound from thursday s trade was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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