Greenback Bulls Rule Markets, US CPI Awaited

[kreslik.news]

With hawkish FOMC and upbeat retail sales providing additional strength to the US dollar bulls, the US Dollar Index (I.USDX) rallied heavily during last week but failed to strengthen against AUD and CAD as rising crude prices helped these commodity currencies.

Adding to the greenback strength was comment from the Fed Chair on Friday that “plausible ways” are running the U.S. economy hot which could fix damage caused by the Great Recession.

The GBP and EUR kept declining on looming concerns that the ECB needs to take some more easy steps before it could start tapering QE, while UK politicians and monetary ... (read more)