We are seeing USD weakness right across the board with the announcement of new trade tariffs against China.
China is threatening reciprocal tariffs and also threatening to let the Renminbi float and we can see what happened last time, so keep an eye on the fundamentals and technicals on USDCNH.Read More
In the last few days BRLUSD has been sold off strongly again meeting some resistance around the 0.2475 level which it has encountered a few times in the last few weeks. In meeting this resistance, BRLUSD has consolidated in a narrow range under this level after falling so sharply throughout August. The 0.24 level had been providing solid support however it is now in jeopardy of giving way and allowing the currency to fall lower. The markets will be watching closely to see if it can regain lost ground and get back above this level.Read More