سԹ

Top of main content

FX Navigator (May): Not the time to chase tactical trends

30 April 2026

Key takeaways

  • Middle East geopolitics appear stuck in a stalemate…
  • …that makes it unlikely for tactical FX trend to be sustained for long
  • The USD may move sideways until the stalemate is broken, while the AUD could strengthen

Our tactical view

^DXY = US Dollar Index, is an index (or measure) of the value of the USD against major global currencies, including the EUR, JPY, GBP, CAD, SEK and CHF.

Source: سԹ

سԹ Positioning Indices

Note: Priced as of market close 27 April 2026

Source: سԹ, Bloomberg

Note: *Priced as at 16:56 HKT on 28 April 2026

Source: سԹ, Bloomberg

Explore our international services

Capital at risk. Eligibility criteria and fees apply

Looking for financial advice?

Capital at risk. Eligibility criteria and fees apply

Related Insights

USD may see gradual upside on US resilience and the Fed staying higher for longer. [13 Jul]
The US-Iran deal and a shift in Fed messaging ended rangebound moves in many G10 FX pairs. [29 Jun]
In his first meeting as Fed chair, Kevin Warsh unveiled a shorter policy statement with...[18 Jun]
    It's easy to answer your query online. Visit our Help page to find out how.