2025/05/19

Global FX Daily – US downgraded

- GBP is resilient due to macro data and risk-on mood
- AUD finds support at 0.64 ahead of the RBA meeting
- Goldilocks rally shows appetite for LatAm FX and the limits to its strength (particularly for Andeans)
- Steady growth in Brazil and Chile in 1Q25 limits additional dovishness

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