After a strong few days, the dollar rally has started to stall. Notably, the media pushing the hawkish elements of the FOMC minutes failed to move both the dollar and short-dated US yields last night.
The US Dollar (USD) remains well supported with broad gains against all of the G10 currencies, building on Monday’s strength in an environment of elevated political uncertainty in the US and France, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.
The Dow Jones Industrial Average (DJIA) caught a firm bid on Friday, rising 482 points, or 1.04%, bottom-to-top. The Dow briefly pierced the 47,000 major price handle for the first time ever, before easing back to a more sedate +300 points (0.65%) on the day.