Dollar Inches Up as BoE Hints at Summer Rate Cut Amid Sparse U.S. Data
Data releases were sparse last week from the world’s largest economy following the Fed meeting the week prior. Trading was rather muted as a result with the major economic news and data releases coming from the UK and Europe. The Dollar ticked up slightly following a dovish hold by the BoE, which indicated a summer rate cut may be on the way.
Published on 15 May 2024
Sparse data releases from the world's largest economy post-Fed meeting led to subdued trading, while major economic updates from the UK and Europe drove market activity, with the Dollar edging up after the BoE hinted at a potential summer rate cut.
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