 Dollar's rally appeared to be slowing a little despite extended rally in benchmark treasury yields, the selloff in US stocks could be stabilizing too. Fed Chair Jerome Powell's comment that interest rate could stay at current level for longer if inflation persist triggered little reactions in the market. This is actually a given now considering recent strong consumption, inflation, and employment data. Fed's Beige Book report today would likely reinforce the view that the economy remains robust while inflationary pressure is not gone. New Zealand Dollar recovers broadly today after Q1 inflation data. While headline inflation slowed, it remained well above RBNZ's target band. More importantly, domestic price pressure as seen in non-tradeable inflation remains elevated and made little progress down. It's still a long way before RBNZ could start cutting interest rates... | 
