The Dollar trade-weighted index shed 0.3% this week, dragged lower by the clearest indication yet by Federal Reserve Chairperson Powell that the Fed may cut its policy rate 25bp at its 31st July policy meeting. The prospect of looser US monetary policy has sent the S&P 500 to a new record high, which was trading at 3,007 at around 19.00 (London time).
Perhaps surprisingly given buoyant global risk appetite the safe-haven Swiss Franc has appreciated 0.5% in the past week to a 12-session high. The volatile Kiwi Dollar has gained 0.6%, while the Euro, Sterling and Australian are all broadly unchanged.
