Non-US central banks begin to act against USD weakness

Week ending Friday August 4 2017 USD flat over the week but very volatile within it. More declines occurred on the back of continued political turmoil in the Trump administration plus some modest evidence of Eurozone economic strength raising expectations for monetary tightening by the ECB. Yet it was mostly US politics that drove the USD down as the GBP rallied as much as the EUR in the first part of the week. Bank of England acts, finally Only strongly worded worries about the UK economy from the Bank of England managed to get the GBP down versus the USD in…

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