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EBC Daily Snapshot May 21, 2024

EBC Forex Snapshot 21 May 2024 The dollar struggled for direction on Tuesday while the Aussie slipped. China’s capital outflows worsened in April as local firms purchased the largest amount of foreign exchange from banks since Apr 2016. Fed Vice Chair Philip Jefferson said on Monday it was too early to tell if inflation slowdown is "long lasting," while Vice Chair Michael Barr said restrictive policy needs more time. Minutes of the RBA's meeting showed the central bank decided to stand pat on interest rates in part to avoid "excessively fine-tuning" policy, but judged a hike might be needed if inflation proved more sticky. 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:

2024-05-21 08:31:51 (GMT)

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