EUR/USD bears pile into critical monthly territory, but is parity a reality just now? By ross_burland EURUSD DollarIndex Fed ECB Currencies
in the forex space following the Bank of Japan's dovish announcements and a subsequent dash for the US dollar.
The advance estimate of Q1 Gross Domestic Product dropped 1.4% saar, versus consensus expectations for a 1.0% lift. However, traders cheered the details that were reasonably robust, with personal consumption up 2.7% saar, disposable income rising 4.8% and gross private investment up 2.3%. Nevertheless, the dollar stays firm along with the higher yields, which can be chalked up to the dollar smile theory that suggests the dollar will gain during periods of strong U.S. data and rising U.S.''Furthermore, we must stress that negative developments in the rest of the world are playing a big part in the dollar’s strength by highlighting relative fundamentals that favour the greenback.
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