Boris and Kathy Forex Weekly – 30-04-2018 – Commodity Dollars
April 29, 2018 11:14 pmVideo
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Will Fed Send the Dollar to New Highs?
It was another great week for the U.S. dollar. The greenback hit multi-month highs against many of the major currencies and this time the move is real. With 10 year Treasury yields breaking above 3% for the first time since January 2014 it has become very expensive to be short dollars. Last week, we saw a combination of short covering and new positioning that took USD/JPY to a 2 month high, EUR/USD to a 3 month low and AUD/USD to a 4 month low. With GDP growth rising more than expected in the first quarter and inflation climbing, investors are convinced that the Federal Reserve will use the May meeting to prepare the market for a June hike.
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