SSPY - Dollar Comes Back Bid
2024-06-13 07:15:00 ET
Summary
- The dollar fell alongside US rates yesterday after the softer-than-expected CPI.
- The US auctions $22 bln 30-year bonds today and $140 bln of bills.
- In the Asia Pacific, most large markets advanced, with Japan and China being notable exceptions.
Overview
The dollar fell alongside US rates yesterday after the softer-than-expected CPI. The move on both rates and the dollar was pared after the FOMC meeting which held rates steady as widely expected, but the median dot now anticipated one cut this year rather than three. The dollar has recovered more ground today and is trading with a slightly firmer bias in G10 currencies. However, trading is quiet, and mostly narrow ranges have dominated. North American leadership is sought, and range extension is likely. Most emerging market currencies, on the other hand, are firmer with a few exceptions, mostly from Central Europe, and the Chinese yuan....
Dollar Comes Back Bid