Forex Market Trading May18 Aftermath

Forex Market Trading May18 Aftermath - The dollar lost more ground against the all majors except the yen, falling 106 pips against gbp and 105 pips against the euro. However the dollar remained practically unchanged against the yen, gaining only 2 pips. The yen is weak across the board, it lost 124 pips against the euro and 120 pips against the gbp. Better than expected Gross Domestic Product figures in today's early forex market trading didn't help the yen, as it bounced back quickly to pre-repost levels.

Forex market trading yesterday saw another sign of usd slowdown in figures in the Philadelphia Fed Survey, the dollar lost more ground after that report. In a statement by Richmond Fed President Lacker in yesterday's forex market trading, Lacker expressed disappointment over the previous two rounds of inflation reports, saying they were higher than the Fed had anticipated. Plus he also said there was a fairly substantial flow of data from the last monetary policy meeting to the next and that unfavorable inflation numbers with higher inflation expectations will make a pause less likely.

However despite his comments the dollar lost more ground in yesterday's forex market trading The dollar closed at 1.2848 against the euro and at 1.8928 against gbp.

That's all for today's forex market trading may18 aftermath.