Swiss Economicblogs.org
The US dollar is mostly weaker today. It appears to be consolidating the gains scored since the reversal on May 3. Sterling and the Australian dollar are leading the way early in Europe. The Australian dollar’s gains appear more intuitively clear. The minutes from the recent RBA meeting indicated that it was a closer decision. This means that a follow-up rate cut next month is unlikely, which is what we have argued. While short-term participants may be surprised today, the...
Read More »FX Daily, May 17: The Meaning of Sterling and Aussie’s Advance Today
