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XE Market Analysis: Asia - Jun 18, 2021

The Dollar rallied in N.Y. on Friday, with gains coming early following comments from the Fed's Bullard, who said we are experiencing "...more inflation than we were expecting." He added “I think it’s natural that we’ve tilted a little bit more hawkish here to contain inflationary pressures.” Treasury yields shot up on the comments, taking the USD broadly higher. The Greenback reversed a bit lower later into the weekend, as profit taking, driven by the subsequent easing of yields set in. Given heightened inflation concerns, the USD may still have some room to run higher. There was no U.S.

XE Market Analysis: North America - Jun 18, 2021

The dollar settled to a consolidation of its post-Fed announcement gains. The narrow trade-weighted DXY dollar index was off highs but still up 1.5% on the week, plying a narrow range below the two-month high that was printed yesterday at 92.01. EUR-USD settled back above 1.1900s after edging out a fresh two-month low at 1.1885, and USD-JPY ebbed to a two-day low at 109.94, having dropped back from the 11-week high that was seen yesterday at 110.82. The yen has posted gains versus other currencies, finding support amid re-positioning as global asset markets sputter.

XE Market Analysis: Europe - Jun 18, 2021

The dollar has settled to a consolidation of its post-Fed announcement gains. The narrow trade-weighted DXY dollar index is up 1.6% on the week and is currently plying a narrow range just below the two-month high that was printed yesterday at 92.01. EUR-USD has settled just above Thursday's two-month low at 1.1891, and USD-JPY has ebbed to a two-day low at 109.97, having dropped back from the 11-week high that was seen yesterday at 110.82. The yen has posted gains versus other currencies, finding some safe-haven support as global asset markets sputter.

XE Market Analysis: Asia - Jun 17, 2021

The Dollar for the most part continued its post-FOMC rally, taking the DXY to two-month highs of 92.01. Ahead of the Fed on Wednesday, the index was trading at 90.54. The prospects of more interest rate hikes sooner, along with ramped up growth and inflation forecasts, should keep the USD underpinned for now. Incoming data on Thursday disappointed, but had little negative impact on the Greenback. Initial and continuing jobless claims were higher than expected, while the Philly Fed index was a bit shy of forecasts, and leading indicators were about in line.

XE Market Analysis: North America - Jun 17, 2021

The dollar has continued to ascend, extending its post-Fed announcement advance. The DXY dollar index printed a two-month high at 91.85, and is up by nearly 1.5% over the last day. EUR-USD concurrently pegged a two-month low at 1.1926, while USD-JPY hit an 11-week peak at 110.82. Cable fell to a six-week low at 1.3934 and AUD-USD traded below 0.7600 for the first time since mid April. NZD-USD has managed to lift out of the two-month lows of yesterday following above-forecast Q1 GDP data out of New Zealand, which came in at 1.6% q/q, over triple the median forecast for 0.5% growth.

XE Market Analysis: Europe - Jun 17, 2021

The dollar has extended its post-Fed announcement advance. The DXY dollar index earlier printed a two-month high at 91.51, and is up by nearly 1.1% over the last day. EUR-USD has concurrently pegged a two-month low at 1.1961, while USD-JPY has hit an 11-week peak at 110.82. Cable has fallen to a six-week low at 1.3972 and AUD-USD has traded below 0.7600 for the first time since mid April. NZD-USD has managed to lift out of the two-month lows of yesterday following above-forecast Q1 GDP data out of New Zealand, which came in at 1.6% q/q, over triple the median forecast for 0.5% growth.

XE Market Analysis: North America - Jun 16, 2021

The dollar majors have been plying narrow ranges into the Fed policy announcement. The DXY dollar index has settled near 90.50 after ebbing back from yesterday's one-month high at 90.68. The peak was seen as the 2-year U.S. Treasury yield inched up to 7-week highs above 0.170%. EUR-USD has settled in the lower 1.2100s after posting a one-month low at 1.2093 earlier in the week. USD-JPY has settled just below the 12-day high that was seen yesterday at 110.18.

XE Market Analysis: Europe - Jun 16, 2021

The dollar majors have been plying narrow ranges into the Fed policy announcement, which is due later today at the completion of the two-day FOMC meeting. The narrow trade-weighted DXY dollar index has settled near 90.50 after ebbing back from yesterday's one-month high at 90.68. The peak was seen as the 2-year U.S. Treasury yield inched up to 7-week highs above 0.170%. The 10-year Treasury yield has steadied around the 1.50%, which marks over a third retrace of last week's yield drop.

XE Market Analysis: Asia - Jun 15, 2021

The Dollar was mostly higher through the London morning session, peaking just after the hotter U.S. PPI outcome. The DXY topped at a one-month high of 90.68, up from intra day lows of 90.35. Aside from PPI, data was mixed, with retail sales missing the mark, though upwardly revised previous months data took the sting out. Industrial production came in better than consensus forecasts. Dollar buying, which was largely a function of pre-FOMC short covering petered out by mid morning, with major pairings largely turning sideways into the close. The U.S.

XE Market Analysis: North America - Jun 15, 2021

The dollar has been trading steady-to-softer in the latest phase, putting a little distance in from the rebound highs that were seen on Friday or yesterday versus the other G10+ currencies. The 10-year U.S. Treasury yield, a big focus for currency markets currently, has tipped back under 1.490% after scaling above 1.50% yesterday, which had marked about a one-third retrace of last week's sharp yield decline. Oil prices have softened today after printing fresh 32-month highs yesterday, and other industrial commodities have also declined.