The dollar was slightly weakened by a rate cut of -7 points (to 3.97%), and the $ Index fell by -0.3% to 102.15.
The Euro rallied symmetrically by +0.2% to 1.0960, the Pound Sterling by +0.3% to 1.2750, and the Swiss Franc by +0.35%
It was the Yen that showed the greatest strength, with +0.5% to 1.4390 (and +0.3% against the Euro, to 157.8).
The link between the greenback and oil works quite effectively over the long term, but not this time – on a one-off basis – since the $ has not risen by a cent, despite a barrel which has fallen by -4.5% in the US (WTI to $70.5) and Europe (Brent to $75.60) as Arabia cuts its tariffs in the face of sluggish demand.
The week ahead will be punctuated above all by the publication of US inflation figures, scheduled for Thursday: this will be one of the most eagerly awaited market movers this week.
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