Trade war headlines continue to dominate the market and create a choppy environment, the PBOC was the catalyst for the reversal in recent dollar strength with the commitment that the Yuan would not be used in any trade disputes.
The New York session gradually dwindled yesterday as liquidity dried up ahead of the bank holiday, UK desks also seemed to leave early – no doubt to prepare for the world cup knockout match in which England finally overcame Columbia after a nervy end to the bad-tempered match.
The big mover was oil, it dropped almost $3.00 in the matter of just over an hour, the reason is still not clear, it did bounce back later in the evening but this is probably one to stay away from for today.
The USDCAD rode the ride though as the pair though but eventually closed near the lows for the day.
Today is one of those days to stay away from trading, European Indices may have a trading opportunity but its best to stay out of the rest.
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