📈Dollar Posts Best Week Since September 2022: Cable FX Macro

• Our measure of the dollar, the Cable FX Macro Dollar Index <.RDDXY>, traded in losses as it headed into tier-1 data. Weakness reversed after the March CPI figures, and judging by the price action, it seems as if the market was expecting inflation to cool down

• Dollar strength extended after the ECB rate decision, March PPI data, and a potential rise in geopolitical tensions. This saw our measure gaining 1.8% on the week, and an index constructed by Bloomberg posted a 1.3% rise. This 5-day performance in the dollar vs peers is not seen since September 2022

• The Swedish krone led losses at 2.3%, the euro followed at 1.8%, and some high-beta currencies performed relatively better as the kiwi lost 1.2% vs the dollar

• The <.RDDXY> is now recording fresh YTD highs, at 313.677, this is the highest the dollar has been since early November