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Currency Market Analysis

Global Themes

Pre-holiday trade found the U.S. currency little changed and poised for its best month all year. It’s taken the better part of 2016, but dollar sentiment brightened materially this month after data from the world’s biggest economy showed improvement and the Federal Reserve dropped not-so-subtle hints that U.S. interest rates could soon rise. The dollar was on track for gains of nearly 2.5% in May, on pace for its best performance since last November. The buck hugged narrow ranges overnight but could test the outer limits today with a revision of how the U.S. economy fared in the first quarter

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