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Softer Yields = Softer US Dollar
The surge in consumer prices reported on Wednesday saw rates jump and the dollar push higher. Stronger than expected producer prices yesterday, and news of wage increases (average 10%) at Mcdonalds and for 75,000 people Amazon wants to hire saw rates ease and the dollar's upside momentum stall. Before the week draws to a close, the US reports April retail sales and industrial production figures. US stocks recovered smartly from the stomach-clenching sell-off on Wednesday, which helped lift sentiment in Asia and Europe. The largest markets in the Asia Pacific advanced mostly 1%-2.3%. New social restrictions in ... (full story)