Dollar Still Down on Inflation, ECB Rate Increase

Dollar Still Down on Inflation, ECB Rate Increase

The dollar remains under pressure with inflationary pressures and thus the reaction function of central banks the key driver.

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The euro traded back above 1.45 after reaching a new 15-month high Tuesday, while sterling continues to trade sideways with odds of a rate hike in May falling to 1-in-6 after Tuesday's sharp drop in inflation. The rates market, however, still remains constructive of a June hike.

Source: Dollar Still Down on Inflation, ECB Rate Increase