The USD surged to an 11-week high yesterday after a robust retail sales report led investors to reduce bets on Fed rate cuts this year.
Read moreThe USD surged to an 11-week high yesterday after a robust retail sales report led investors to reduce bets on Fed rate cuts this year.
The USD rose modestly yesterday, as rising Treasury yields stalled early in the North American session and US equities closed in the black.
The USD gained 0.3% in risk-off trading yesterday, appreciating against all G10 counterparts except the Canadian Dollar.
The dollar traded firmly higher on Tuesday, anticipating the release of the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers Index (PMI) data.
The USD depreciated by 0.2% yesterday, erasing pre-North American session gains of over 0.5% following Wednesday's 50-basis-point rate cut.
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