The US Dollar (USD) is trading defensively across major currencies, with the possibility of drifting towards the lower end of its range in the June-December period. Markets are closely watching Federal Reserve spokesmen Stephen Meiran and John Williams for signals about the next policy moves, BBH FX analysts report.
Fed speakers in focus today
“The US dollar is trading on the defensive against most major currencies. The US dollar has room to fall to the lower end of its June-December range, as it converges towards the level indicated by US-G6 interest rate differentials.”
“Today’s Fed speakers include: hawkish Fed Governor Stephen Meiran and influential New York Fed President John Williams. Remember, it was Williams’ dovish speech on November 21 that revived December Fed funds rate cut bets.”
