On Wednesday, the Federal Reserve hiked rates and laid out its plan to unwind its $4.5 trillion balance sheet. The U.S. dollar rose against its Japanese rival on Wednesday, erasing an early decline after an industry group said that crude supplies fell by nearly six million barrels last week.
Bottom line: The win from pro-Europe Macron is positive for the common currency and therefore negative for the US dollar. The short-term weakness in the US$ also provides some minor inflationary pressure.
US dollar news for 15/05/2017
The Bank of England (BoE) has highlighted stubbornly low wage growth since the 2008 financial crisis as one reason for keeping UK interest rates low.Related link:
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