USD Suffers as Politicians Fight.
Either way, the US political wrangling and heavy-handed rhetoric is spilling out, generating a high level of uncertainty across markets and eroding the USD’s position.
President Obama stated that a “default would risk causing a deep economic crisis.”
In Australia, the RBA Stevens’ speech was relatively optimistic on the economy which supported the AUDUSD’s rally.
EM Asian currencies continue to show themselves as relatively resilient to events in the western world and we expect this decoupling to continue.
“small step for man”