The Greenback regained some balance and managed to partially reverse its recent strong sell-off, particularly in the wake of the US CPI.
In the meantime, Fed officials sounded cautious regarding inflation and the likelihood of rate cuts later in the year. Here is what you need to know on Friday, May 17: The USD Index clinched a decent rebound after bottoming out in multi-week lows near 104.00 earlier in the session. On May 17, the CB Leading Index and the speech by FOMC Waller are due. EUR/USD faced some downside pressure after hitting fresh tops near the 1.0900 region.
USD/JPY regained upside traction and recovered part of the ground lost following Wednesday’s sell-off, advancing beyond the 155.00 barrier amidst the Dollarrecovery and an uptick in yields. AUD/USD faded part of the strong weekly advance and came under pressure soon after reaching new peaks north of the 0.6700 hurdle. WTI prices kept their range bound theme in place for yet another session, always below the $80.
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