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US dollar returns to the lows of the day as risk trades rally
globalreutersMay 15, 20241 Mins read The US dollar is having a look at the post-CPI lows of the day as the risk mood in markets improves.
It’s turned into something of a ‘buy everything’ market as gold hits a new session high, the S&P 500 hits a record high and even oil has erased a $1 decline.
The dollar has been choppy today but the bulls are winning. AUD/USD shows the moves with the pair jumping on US CPI, then giving it all back before a fresh rally in the past hour or so.
The market is feeling very good about the possibility of US rate cuts this year and a slowing economy.
About the only thing not having a good time in markets today is Gamestop, which is down 32%.
This article was written by Adam Button at www.forexlive.com.
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