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Barchart
Barchart
Rich Asplund

Dollar Jumps on Hawkish Fed

US Federal Reserve United States Gold Interest Rates ECB Gediminas Simkus Japan PBOC

The dollar index (DXY00) on Wednesday rose by +0.49%. The dollar moved higher on Wednesday, supported by stronger-than-expected US economic reports on May retail sales and May pending home sales. The dollar raced to its high on Wednesday afternoon when the FOMC projected higher interest rates later this year.

US May retail sales rose +0.9% m/m, stronger than expectations of +0.6% m/m. Also, May retail sales ex-autos rose +0.8% m/m, stronger than expectations of +0.6% m/m.

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