Global Foreign Exchange Market
THE dollar appreciated by 0.26% to 96.6 over the week. At the beginning of the week, investors flocked to safe haven assets as US-Turkey relations turned sour. However, the dollar took a breather later in the week as market sentiment improved following the return of US-China “low-level” trade talks and the easing of the Turkish crisis. This week’s economic release includes July retail sales, which grew at the same pace as in June by 0.5% m/m (consensus: 0.1% m/m), failed to provide much lift to the dollar.
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