What you need to know on Thursday, May 20:
The dollar was up across the board, ending the day with gains against most major rivals. The FOMC published the minutes of its last meeting and, while the document showed that officials maintain their cautious stance, some of them are willing to discuss the gradual reduction in the next meetings. That line caused a run in yields and put pressure on stocks.
The 10-year US Treasury yield peaked at 1.69% to end the day at 1.67%. Wall Street rebounded from intraday lows, but all three major indices closed in the red.
EUR / USD settled around 1.2160, while GBP / USD hovers a few pips above 1.4100. Commodity-aligned currencies were hit by poor performance in equities and falling gold and oil prices.
The shiny metal rose to $ 1,889.96 a troy ounce, but trimmed most of its gains before the close, ending the day around $ 1,870.00. WTI closed at $ 63.30 a barrel, rebounding from a new weekly low of $ 61.93.
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