After Friday’s pullback against a resurgent dollar, the euro remained below the key $1.1200 level in Asian trading today.
Forex Market Review (Asian Session) – Dollar boosted by Fed speaker and US GDP; pound rebounds after latest election pollFacebook Google Plus TweetThe dollar was boosted after comments by Federal Reserve Bank of San Francisco President John Williams and on an upbeat US GDP.
An ICM poll for British newspaper The Sun released over the weekend, showed Prime Minister Theresa May’s Conservatives with a 14-point lead over the Labour Party.
WTI oil rose to as high as $50.01 a barrel in Asian trading.
Dollar regain Only Slightly After wary Fed few minutes
as informed in The U.S. dollar rose to a fresh high for the day as a more-than-3% decline in crude oil weighed on commodity-driven currencies, enabling the dollar to pare losses sustained in the prior session.
Despite today’s bounce, the dollar has been unable to claw back Wednesday’s losses after minutes of the Federal Reserve’s May 3 policy meeting injected an air of caution into the outlook for U.S. interest rates.
Trading flows were modest with many European trading centers closed for the Ascension Day holiday.
collected by :Irax John