XE Market Analysis: North America – May 31, 2018

Comments are off

The dollar has traded softer against most currencies while holding near net unchanged versus the yen. EUR-USD carved out a fresh rebound peak of 1.1724, extending the lift-out of the 10-month low that was seen at 1.1510 on Tuesday. A spike in Eurozone HICP to 1.9% y/y from 1.4% gave the euro some vim, while a continued rebound in Italian markets (the 10-year BTP yield has dropped some 18 bp today) has also been in the mix of euro buoyancy aides. Cable vaulted above 1.3300, following EUR-USD’s lead as the pound concurrently lost ground to the euro.