MARKET UPDATE 23-MAY-18

The US dollar slipped yesterday after six straight days of gains, as US Treasury yields dipped and investors looked for fresh incentives to buy the currency following a nearly 7 percent rally since mid-February.

Investors are now looking forward to today’s release of the US Fed’s minutes from its most recent meeting and analysts said there could be inflationary overtones.

Great Britain released its CPI data for April this morning at 2.5percent compared to the previous 2.7 percent.

We are still awaiting Reserve Bank of Australia’s Governor, Philip Lowe’s speech today and New Zealand’s Trade Balance releases for the month of April later this evening.

This is perhaps a market-moving news and we’ll wait to see how it affects our Fiji dollar and other trade partner currencies tomorrow.

FX Rates 23.05.18

 

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