The US Dollar posted strong gains after a stronger-than-expected US manufacturing survey triggered fresh doubts whether a June Federal Reserve interest rate cut was realistic. Trading volumes remained thin with most European markets still closed for holidays and the dollar posted strong gains. April is usually a strong month for the Pound, but it has got off to a rocky start. European currencies came under strong pressure and the Pound to Dollar (GBP/USD) exchange rate slide to 6-week lows around 1.2565. In comments on Friday, Fed Chair Powell stated that the latest inflation data is along the lines of what we would ... (full story)