Forex Today: Dollar in trouble, Fed unlikely to rescue – by MSalordFX DollarIndex Currencies Majors RiskAppetite
from Australia and the UK. Central bank decisions and economic figures will pose a challenge for equity markets and the US Dollar.The US Dollar ended the week under pressure, particularly against emerging and commodity currencies, after unexpected rate hikes from the Reserve Bank of Australia and the Bank of Canada, higher commodity prices, and an improvement inWall Street indexes reached their highest level in months, despite some concerns about the global economic outlook.
The Pound outperformed during the week as markets see the Bank of England going further with rate hikes. The next BoE meeting is on June 22. The UK will release employment data next week.
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