The Greenback extended its recovery and pushed the USD Index back to the 105.00 region amidst higher yields and in response to the hawkish tone from the FOMC Minutes. Here is what you need to know on Thursday, May 23: The USD Index rose to multi-day highs near the 105.00 barrier supported by the tighter-for-longer narrative around the Fed .
On May 23, flash Manufacturing and Services PMIs will be revealed prior to the speech by the BoE’s Pill. Higher yields and the continuation of the rebound in the dollar lent extra legs to USD/JPY, which flirted with the area of three-week tops. On the domestic calendar, weekly Foreign Bond Investment are due on May 23, seconded by advanced Jibun Bank Manufacturing and Services PMIs.
Source: Financial Digest (financialdigest.net)
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