FXY - Aussie Slammed By Dalian Coal Embargo While Firmer Flash PMI Does Euro Little Good
Overview: The US dollar is firm against most major and emerging market currencies. There is more optimism on US-Chinese trade as a series of understandings are drafted, and an extension past March 1 of the tariff freeze is reportedly in the works. Mixed economic data and a call from a local bank for two rate cuts this year did not have as much impact on the Australian dollar as reports suggesting that Dalian, where 2% of Australia coal goes, has blocked imports to which is seen as a protest to Australia's ban of Huawei. It