malaymail.com 03 May, 2021 04:30 am

Dollar holds gains as traders look to US data for policy cues

Dollar holds gains as traders look to US data for policy cues
SINGAPORE, May 3 — The dollar clung to a recent bounce today as investors made a cautious start to a week crammed with central bank meetings and big-ticket US economic data, looking for clues on the outlook for global inflation and for policymakers’ response. Asia trade was thinned by public...

7724 today to trade just above its 20-day moving average at US$0.7174, also just above its 20-day moving average.SINGAPORE, May 3 — The dollar clung to a recent bounce today as investors made a cautious start to a week crammed with central bank meetings and big-ticket US economic data, looking for clues on the outlook for global inflation and for policymakers’ response.Central bank policy meetings are also scheduled this week in Australia, Britain and Norway.

“Nevertheless,” she said “the risk of short bouts of dollar strength remain if solid data push US Treasury yields materially higher.“The risk is for a hotter number,” said Chris Weston, head of research at broker Pepperstone in Melbourne.

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