The dollar is posting a second consecutive weekly loss after major central bank decisions. Declines were contained, the Cable FX Macro Dollar Index finished the week down 0.8%, off its worst levels
In the G10, high-beta led the pack as NOK, AUD, GBP posted gains around 1.5% vs the dollar. The Norges Bank, the BoJ, and the BoE decided on policy this week. The RBA is next to hit the stage
Underperforming the group, low yielding franc and yen ended the week in losses against the USD. The Japanese yen gave up 2.2%, its worst 5-day period since April. The BoJ left policy unchanged and governor Ueda stated that the central bank is in no rush to lift rates further
Traders demand for JPY topside was trimmed, risk reversals now stand at 108bps in favour of USD/JPY puts vs 200bps a week ago. Volatilities were offered on the week, even the Mexican peso structure saw signs of relief
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