While the risk-linked galaxy gathered fresh oxygen in the first half of the week, the hawkish hold by the Federal Reserve and rising political concerns in the old continent eventually hurt the risk complex and propelled the Greenback to fresh tops towards the end of the week.
The US Dollar added to the post-FOMC optimism and reclaimed the 105.00 barrier andabove, despite US yields trading mostly on the defensive throughout the week. The New York Empire State Manufacturing Index is due on June 17, while Retail Sales, Industrial Production, Business Inventories and TIC Flows will be published on June 18.
The GfK Consumer Confidence comes on June 21, seconded by Public Sector Net Borrowing, Retail Sales, advanced Manufacturing and Services PMIs and CBI Industrial Trend Orders. USD/JPY briefly surpassed the 158.00 hurdle following the dovish hold by the BoJ and the robust momentum in the Greenback. Declining US and Japanese yields, however, appear to have limited the upside.
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