Dollar Sold off of Dovish Fed, Sterling Shone Dollar ended the week as one of the weakest major currencies after Fed signaled that even if the first hike could still come in September, the following tightening path would remain gradual. The greenback was only overwhelmed by the New Zealand dollar as analysts saw the much weaker than expected Q1 GDP reading as sealing the case for a July RBNZ cut. Sterling was the strongest major currencies as boosted by strong inflation and wage growth data. Meanwhile, Euro stayed resilient in spite of the endless Greece drama, which is now entering the final stage. Volatility was seen in other financial markets but they're generally staying in range. DJIA rebounded but was stuck in recent range below 18351.36. Similar picture was found in S&P 500 which failed to break out from range from 2134.72 high. Crude oil extended range trading below 62.58. Gold was back above 1200 handle. Full Report Here... |
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