Market News

The dollar held near a four-month high on Wednesday as investors waited for news from the Federal Reserve’s two-day policy meeting which will be ending later today.

The Euro continued to slide and was headed near to a 3½ month trough as investors ponder the next steps of the European Central Bank.

U.S. President Donald Trump has delayed the imposition of steel and aluminum tariffs on Canada, the European Union and Mexico until June 1, the White House announced late Monday, only a few short hours before the temporary exemptions for these countries was set to expire.

In only one day’s time U.S. President Donald Trump will have to announce whether he will grant permanent exemptions to his sweeping steel and aluminum tariffs and politicians, economists and traders worldwide are eagerly awaiting this decision.

The Euro was pinned close to a recently struck 3-month trough while the US Dollar steadied close to a 3-1/2 month high.

Oil prices held near three-year highs on Monday and looked set to rise for the second straight month despite dips in prices prompted by rising U.S. rig counts.

This week will see the release of some big news, with central bank input due from the FOMC, as well as key U.S. Non-Farm Payrolls data.

The US Dollar Index remained close to a 3½ month peak with higher yields on US Treasury instruments prompting investors to unwind some short positions in the Dollar even as the Euro was pressured by the European Central Bank’s dovish tone.

The Pound Sterling earlier struck a 5-week trough versus the US Dollar with wary traders concerned about the repercussions of a disappointment GDP read.

Asian markets were mixed on Thursday, supported by positive earnings on Wall Street which increased investor optimism.

The Pound Sterling moved lower against the US Dollar after the greenback strengthened on a rise in US Treasury yields.

The dollar continued to strengthen on Wednesday morning in Asia, nearing its four-month high after the U.S. 10-year bond yield hit 3.009 percent after hovering at 2.998 percent during yesterday’s Asian session.

The common currency Euro had slipped to a 2-month trough against the US Dollar on worries over the increasing yields on US Treasury instruments which could push the currency toward an unwanted break in its range.

The dollar hit a three-month high against its major trading partners on Tuesday after the U.S. 10-year Treasury yield surpassed its four-year high on Monday, to 2.998 percent.

Continued fears about a potential United States sanction against Iran kept the oil rally going strong on Tuesday, sending prices higher for the sixth straight day.