Broad US dollar (USD) strength has moderated a little since April when the Bloomberg dollar index (BBDXY) peaked around 1271. The rising trend in the USD through Q1 and early Q2 was supported by the rebound in US rates and it is no coincidence that the peak in the BBDXY coincided with the peak in US short rates around the 5% level as markets reacted to stronger-than-expected inflation and employment data. Progress on inflation remains glacial, notwithstanding the lower-than-expected CPI data for May, but signs of some slowing in the US economy and the labour market may start to weigh on US yields and the USD moving ... (full story)
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2024-06-13 22:35:00Z
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