XE Market Analysis: North America – May 20, 2021

The dollar has corrected some of the gains seen following the release of the FOMC minutes from the late April meeting, which showed that “a number” Fed members were thinking about when to taper. This pushed longer-dated Treasury yields and the dollar higher, the latter of which printed a three-day high at 90.29 by the measure of the narrow trade-weighted DXY index. The dollar since ebbed back to levels around 90.00, but remained comfortably above the three-month low that was seen on Tuesday at 89.69.