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EBC Daily Snapshot May 24, 2024

EBC Forex Snapshot 24 May 2024 The dollar headed for its largest weekly rise in a month and a half on Friday as surprisingly strong US economic data has left markets on edge about the outlook for interest rates. May figures showed US business activity accelerated to the highest level in just over two years. The yen dipped below 157 per dollar as Japan's core inflation slowed for a second straight month in April. The increase in the nationwide core CPI marked the 25th straight month it has remained above the BOJ's 2% target, but the slowdown may signal a scarcer chance of an imminent rate hike. EBC Investment Strategy Report 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 Financial Group or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

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Investment involves risk. The content of this report is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.

Publication date:

2024-05-24 10:32:03 (GMT)

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