Forex Today: Buck gains ground on hawkish Fed rhetoric, euro also in demand amid ECB July hike chatter By Frank_Macro DollarIndex EURUSD GBPUSD USDJPY
, with ECB President Christine Lagarde not saying anything new in her remarks at an IMF panel, but
His remarks seemed to endorse those recently made by some of the ECB’s more hawkish members in recent days pushing for a July hike and saw ECB tightening bets upped as a result. Meanwhile, higher yields in the US saw the yen struggle, though albeit perform a little better than its risk-sensitive peers amid safe-haven demand as stocks fell. USD/JPY gained about 0.4% to rally into the 128.30s, with the bulls eyeing a potential retest of earlier multi-decade highs above 129.00 if 1) US yields keep pushing higher and 2) the BoJ keeps reiterating its dovish stance and defending its yield curve control target range.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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