Other currencies following…
The USDCNH fell on the headline that the US was pressing for a stable Yuan in the trade talks. The penalty would be more tariffs. If the Yuan has to stay stable or even rise, the USD has to fall. Well, all the major currencies are falling in sympathy.
The USD is now the weakest of the majors with declines vs all the major currencies.
Looking at the “changes” chart below, all the pairs, with perhaps the exception of the USDJPY, are pinned at extremes (low USD).
The GBP remains the run away strongest currency.
Below is the 5 minute chart of the USDCNH (off shore Yuan). The other dollar pairs show a similar run over the last 30 minutes.
Stocks are trading near the highs.