The greenback is sitting a little higher against the rest of the major currencies
But just be mindful that the dollar will be encountering some challenges later today amid a jam-packed economic calendar in US trading. So far, gains are rather mild with most currencies still keeping within narrow ranges against the greenback.
The aussie is a tad weaker after Westpac called for two more RBA rate cuts next year with QE also on the agenda in 2H 2020. That is stroking some fears among market participants but nothing too major as futures are still pricing in a ~35 bps rate cut in total for 2020.
Meanwhile, the pound is staying a bit pressured as well with voting intentions seemingly all over the place. As I said before, they can be interpreted as what you will but there is some uncertainty creeping in about how strong a lead the Conservatives have.
The key focal point for the pound today will be the YouGov MRP poll release at 2200 GMT. I think that will play some role in settling election sentiment in the near-term.
Looking ahead, risk will remain a key factor affecting trading sentiment with US-China trade headlines dominating the headlines still. As such, be wary of more reports and communique about trade progress ahead of the Thanksgiving holiday.
