MARKET UPDATE 24-May-18

The US dollar lost some steam after the Federal Reserve’s May policy meeting minutes showed signs of dovish tilt this morning. The minutes suggested that the Fed is in no hurry to raise interest rates.

Closer to home, New Zealand released a robust April trade balance data at $263 million surplus versus the previous $156 million deficit. Their exports increased to 5.05 billion while imports decreased to 4.79.

Meanwhile, sterling fell to a 2018 low after weaker-than-expected UK inflation cast doubt on whether the Bank of England will raise interest rates this year.

FX Rates 24.05.18

 

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