European Market Update – A run of net weaker U.S. data, particularly last Friday’s May employment report, has suggested a shallower Fed tightening trajectory lies ahead than hitherto expected.The dollar, meanwhile, remained on a softening track, with the narrow USD index clocking a fresh seven-month low, while it has posted fresh lows versus the pound, Canadian and Australian dollars, the latter being supported by a fairly upbeat statement from the RBA following a widely anticipated no-change policy announcement. Additionally more evidence of weak USD is Gold and USDJPY which fell for a third consecutive session, this time making a six-week low at 109.65.
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Senior Market Analyst
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