The US Dollar managed to turn a close call test of 14-month lows into an impressive rebound over the past two weeks.
Perhaps the most striking development this past week, which will galvanize Euro bears going forward, was that, contingent upon the ECB’s June economic projections, the German central bank is reportedly ready to agree to additional non-standard easing measures – perhaps those that are unprecedented as well.
The USD/JPY extended the decline from earlier this month, with the pair slipping to a fresh low of 101.30, and the Bank of Japan (BoJ) interest rate decision may continue to undermine the bullish sentiment surrounding the dollar-yen should we see a more material shift in the policy outlook.
Gold prices are marginally higher this week with the precious metal inching up 0.18% to trade at $1291 ahead of the New York close on Friday.
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