Greenback Pushes Lower
- The US dollar is pulling back after recording new highs for the year against the euro and sterling
- Press reports that the Trump Administration is going to open an investigation into auto imports on national security grounds
- Much stronger than expected UK April retail sales lifted sterling
- The FOMC minutes confirmed the Fed’s intention to hike rates next month
- BOK kept rates steady at 1.5%, as expected; SARB is expected to keep rates steady at 6.5%.
- With the lira resuming its slide today, more rate hikes are likely;
- Mexico mid-May CPI is expected to rise 4.41% y/y- If so, inflation would still be above the 2-4% target range. Next Banxico meeting is June 21 and much will depend on how the peso is trading ahead of the July elections.
200 HMA= 504 80
100HMA= 502 50