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Dollar remains strong after hawkish lean from FOMC’s Evans
Trading sentiment remains reasonably stable in spite of the US dollar continuing to creep higher. Support has come from a suggestion from one of the FOMC’s historically more dovish members, Charles Evans, that there may be three rate hikes by the end of next year if inflation and labor market trends continue. The move was also boosted by a one year high in the Markit Flash Manufacturing data. This all is helping to lift Treasury yields higher and means that a prospective rally on gold is being stunted. Positive corporate earnings are helping to support Wall Street which could have been coming under pressure from ... (full story)