Market Briefing: Dollar fades as rebalancing flows gain momentum
Currency market volumes are rebounding as participants return to their desks and position for a reversal of the US exceptionalism trade that dominated throughout 2022. The dollar is weaker against every other major this morning, and yields are softer across the front end of the curve – even as traders brace for relatively-hawkish meeting minutes from the Federal Reserve later in the day. The Aussie is a clear outperformer after Chinese authorities began discussing an end to an unofficial ban on Australian coal imports. Unconfirmed reports circulated by Bloomberg and Reuters this morning suggest the National Development and Reform Commission...