S Dollar Stays Weak Against the Backdrop of Political Instability
The US dollar remains weak against the euro, the British pound and the Japanese yen, as political instability in Washington continues. The euro remains strong in anticipation of data on GDP for the second quarter. The British pound has strengthened slightly. The Australian dollar rose after the RBA left the interest rate unchanged.
As expected, the RBA left the interest rate unchanged at 1.5%. Politicians admitted that inflation in June fell below + 2%. But still, the RBA’s representatives are confident that inflation will gradually improve along with the growth of the economy.
The purchasing managers’ index (PMI) Caixin, which is a leading indicator of the state of the manufacturing sector in China, rose to 51.1 in July. This is the strongest indicator for the last four months.