Dollar Hits New Highs After FOMC Minutes
Today we saw the Greenback extend gains against its major counterparts after FOMC revealed they are moving closer to the next interest rate increase, possibly in June or July with the probability of a hike jumping from 5% to 23% after the minutes were released.
Month Of May = Dollar Bulls?
The past two weeks we have seen that the dollar rally has legs as the Greenback has advanced for its longest run of gains since January. This is keeping with seasonal USD strength in May as historically, the Greenback has gained in May over the past 9 out of 10 years.
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