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Sunset Market Commentary - Action Forex

This morning we wrote: “The dollar holds the better cards against both the euro and the pound. EUR/USD is nearing the 1.07 pivot again and GBP/USD holds close to 1.25 this morning. Which will break first?” Well, both, it turned out. A clearer than ever divergent path between the Fed and ECB specifically weighs on the euro. ....

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Two Fed officials urge patience before any interest rate cuts

Kansas City Fed president Jeff Schmid and San Francisco Fed president Mary Daly said they would employ patience and caution before approving any rate cuts. ....

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