Following a negative start to the week, the Greenback managed to regain traction and lifted the USD Index (DXY) back above the 106.00 hurdle sustained by data and cautious trade ahead of the Fed’s interest rate decision on Wednesday.
Following a negative start to the week, the Greenback managed to regain traction and lifted the USD Index back above the 106.00 hurdle sustained by data and cautious trade ahead of the Fed ’s interest rate decision on Wednesday. Here is what you need to know on Wednesday, May 1: The US Dollar bounced strongly amidst persistent prudence ahead of the imminent FOMC event on Wednesday.
Across the Channel, Nationwide Housing Prices are expected on May 1 prior to the final S&P Global Manufacturing PMI. USD/JPY regained buying interest and rapidly surpassed the 157.00 hurdle, as traders seem to have already left behind Monday’s suspected FX intervention. There are no scheduled data releases in the Japanese docket on May 1. AUD/USD collapsed to multi-day lows south of 0.
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