XE Market Analysis: Asia – Apr 26, 2019

The Dollar rallied momentarily following the stronger U.S. Q1 GDP report, though quickly turned lower, as the sharp gains were largely to do with inventory and trade figures, which bumped up growth, likely to be reversed in Q2. In addition, the price index fell sharply, weighing on Treasury yields, and the Greenback. EUR-USD bottomed at 1.1111, a near 23 month low, later bouncing to 1.1174. USD-JPY topped at 112.02 after the data, then fell to 111.43. USD-CAD eased to 1.3452 lows, despite the near 4% pullback in WTI crude. Cable popped to 1.2943 highs, after bottoming at 1.2875.