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Oil prices dropped back from multi-year highs
OIL Oil prices dropped back from multi-year highs late on Wednesday, after the Federal Reserve indicated its intention to raise interest rates faster than previously thought, triggering a dollar rally. With the Fed becoming hawkish, the dollar is likely to continue to rally in the days ahead, representing a headwind for oil and other commodities.[…]
The pound gained ground on both the dollar and the euro
po FOREX The pound gained ground on both the dollar and the euro during early Wednesday trading, following the publication of UK inflation data that revealed an year-on-year rate of 2.1% during the month of May. This reading surprised to the upside, as the markets’ consensus had been for a 1.8% rise in consumer prices.[…]
The Dollar Index is showing some weakness
FOREX The Dollar Index is showing some weakness during early Tuesday trading, amidst a low-liquidity market that is likely to continue until the conclusion of June’s Federal Reserve policy meeting tomorrow. No major shifts in monetary policy are expected to emerge from the gathering, however investors will be listening with interest, scanning for hints[…]