Following the sharp 1.9% drop in the Dollar Index last week, the DXY barely moved this week, partly because of a shortened week for US investors. But we also didn’t have much in the way of significantly important data to excite the markets. The FOMC minutes were overshadowed by last week’s soft CPI and PPI figures alongside rising jobless claims data. Together, these data releases poured cold water on recent hawkish Fed comments, keeping yields under pressure.
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