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US moving on its own course - BBH

FXStreet (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman explained that the US dollar is trading broadly higher as the divergence thesis gains ground with the latest batch of disappointing euro area data.

Key Quotes:

Soft UK BRC sales and price indices suggest that Britain is being pulled closer to the euro area than to the US."

"Separately, for the second time this month, the People's Bank of China has cut its 14-day repo rate. These global headwinds are seen as potentially delaying the beginning of the normalization of US monetary policy, and are spurring a leg up in the bond market rally, with 10-year Treasury yields dropping to 2.20%."

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