Monday 16 May 2016

XE Market Analysis: North America - May 16, 2016

The dollar consolidated the gains seen on Friday following a robust set of data, which rekindled the possibility, if not probability, of the Fed hiking rates in June. Trading volumes have been light during the European AM session with Germany, Switzerland, and other nations out for public holidays today. EUR-USD has been making time in a narrow range just north of 1.1300, above the near-three-week-low at 1.1283 seen on Friday. USD-JPY has remained mired in a comparatively narrow range below 109.00, holding comfortably above the low from last Thursday at 108.22.



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