A data light shortened week in the US put the spotlight on Fed Chairman Warsh’s first meeting and a perceived ‘hawkish pause’. Sentiment was however aided by signing of a Memorandum of Understanding between the US and Iran. Eurozone data shone a little brighter, China’s growth data continued to surprise to the downside while higher inflation readings printed in Japan. Global equities rose alongside bond yields. The dollar index (DXY) followed suit. Oil slumped. The US dollar index (DXY), taking its cue from the Fed’s ‘hawkish pause’, higher bond yields across the curve and stronger equities – broke comfortably above ... (full story)