The US dollar outperformed all its major peers yesterday following solid economic data and hawkish remarks by Fed Chair Jerome Powell. Italian assets were supported by the reports that Italy's government is planning to scale back its deficit targets for 2020 and 2021, while in the UK, PM May's speech did not result in any major market reaction.
Dollar and Tr. Yields Surge on Upbeat US Data and Powell’s Comments
The dollar managed to outperform all the other G10 currencies on Wednesday. It gained the most against NZD, AUD and NOK, while the currencies against which it gained the least were GBP and CAD.

The dollar stood tall and US Treasury yields surged yesterday following solid US data as well as hawkish remarks by Fed Chair Jerome Powell. Getting the ball rolling with the data, the ADP employment report showed that the...
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