US trade war to push Australian dollar lower

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Friday night saw the US dollar index (DXY) pop then drop. EUR and CNY were weak:

The idiot EUR long continues its great disappearing act:

AUD was stable against developed markets (DMs):

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.