DXY-Commentary
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June 25, 2026
June 24, 2026
June 23, 2026
June 18, 2026
June 17, 2026
USD flows: Lots to digest from the Fed press conference
June 17, 2026 7:09 PM UTC
Taskforces announced, with inflation and balance sheet ones notable
Dots described as pencilled forecasts, and set to be reviewed
Warsh gives mixed view on policy tightness
Curve pivot flattens but balance sheet review should be watched closely
USD flows: Fed projections nuanced, but bolsters dollar
June 17, 2026 6:27 PM UTC
Dots shift, albeit quite as hawkish in composition as they may seem on first look
Show more a strongly divided Fed, and one than can still hold if data cools 'post Iran'
Nonetheless, median and to a lesser extent the breakdown partly valid the market shift
Dollar firms and continues dalliance with retu
June 16, 2026
EUR/USD, USD/JPY, NOK/SEK flows: FX sleeping but oil is still moving
June 16, 2026 12:36 PM UTC
Pre-Fed intertia and as market digests two-way pull of deal impact
But oil is still active, extending the break lower and threatening bigger range shift
As such, mkt may later re-focus on ToT and oil trade narratives
June 15, 2026
June 11, 2026
May 26, 2026
USD/JPY, EUR/JPY flows: Strong month for the N225 worth watching this week
May 26, 2026 1:28 PM UTC
Minor US data albeit still showing overall economic resilience
Some focus on any potential USD/JPY month-end hedging demand on N225 (headline) outperformance
See if it adds to temporary upside pressure into intervention zone
May 20, 2026
USD/JPY, EUR/JPY flows: A compelling argument for the BoJ to surprise with aggressive Operation Twist
May 20, 2026 8:53 AM UTC
Argument that the current BoJ mix is not being rewarded. Indeed, its being punished as trilemma narrative takes hold
A riff on 'Operation Twist' offers a strong way forward - hike policy rates while reduce the aggressive taper
Could actually be both macro supportive and market savvy
Best version of the
May 19, 2026
May 18, 2026
USD flows: Waiver allows some respite
May 18, 2026 1:01 PM UTC
Some respite on suggestions of US temporary waiver on Iran oil sanctions, before any final agreement
Mkt lifted by some US compromise and apparent responsiveness to fresh energy pressure
Day to day development swing too wildly to get carried away
USD flows: Dollar/EM could be a near-term tell
May 18, 2026 9:02 AM UTC
Looking at dollar price action more broadly suggests it could become the dominant n/t driver
USD/regionals diverse but broadly weak, some becoming unstable
Profit-taking evident even in the strong relative shock / terms-of-trade thematic gainers