USD slides Against major currencies – BBH

The US Dollar (USD) is trading defensively across major currencies, with potential to drift toward the lower end of its June–December range. Markets are closely monitoring Federal Reserve (Fed) speakers Stephen Miran and John Williams for signals on the next policy moves, BBH FX analysts report, BBH FX analysts report.

Fed speakers in focus today

"USD is trading on the defensive against most major currencies. USD has room to edge down to the lower-end of its June-December range as it converges towards the level implied by US-G6 rate differentials."

"Fed speakers today include: staunch dove Fed Governor Stephen Miran and influential New York Fed President John Williams. Remember, it was a dovish speech by Williams on November 21 that revived December Fed funds rate cut bets."