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EBC Daily Snapshot May 20, 2024

EBC Forex Snapshot 20 May 2024 The dollar was broadly steady on Monday as investors awaited further clues to help chart the US interest rate path. Fed officials have sounded words of caution about when rates may fall despite weak inflation report. They yen traded around 156 per dollar after moving in tight ranges in the past few days. Data showed Japan's economy shrank more than expected in Q1 and exports also slumped. Japan's weak consumption may heighten, rather than tame, already growing political pressure on the central bank to raise interest rates to slow the declines blamed for hurting households via higher import costs. EBC Group Brand Influence Disclaimer: This material is for general information purposes only and is not intended as (and should not be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by EBC Group or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Publication date:

2024-05-20 09:43:15 (GMT)

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