USD weak; further rate cuts foreseen
With global economic situation waking up perpetually on the wrong side of the bed, and the Brexit uncertainty remaining to be in the cards, the USD is caught in somewhat a modest weakness.
Amidst the threat of more interest-rate cuts, from the international central banks, a resolution to the already dragging U.S.-China trade war had been supportive of the recent rally in the global stock markets. This had pressed its weight on the USD’s supposed safe-haven status.
Adding to the drama, the U.S. economy had showed signs of slowdown, thus motivating the Federal Reserve to provide support through further interest rates cuts.