06 August 2019 : The mighty Dollar was attacked from all directions yesterday despite trade concerns boosting appetite for safe-haven assets.

Appetite towards the Dollar was most likely hit by the disappointing ISM Non-Manufacturing PMI which dropped to 53.7 in July – the lowest since August 2016. With growth in the US services sector cooling as trade worries impact business orders and the outlook for economic growth, expectations are bound to mount over the Federal Reserve cutting interest rates again in 2019.

Given how the Dollar remains extremely sensitive to rate cut speculation, investors should fasten their seat belts and brace for Dollar volatility this quarter.

Source: Lukman Otunuga, Senior Research Analyst at FXTM.

Reporting for EasyKobo on Tuesday , 06 August 2019 in Lagos, Nigeria