Scotiabank Global FX Strategy
May 14, 2026
Daily FX Update
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The USD remains range-bound as markets await US retail and inflation data following the confirmation of Kevin Warsh as the next Fed Chair. Major FX pairs like EUR and JPY are steady, while GBP faces pressure from trade deficits and political uncertainty.
Key Takeaways
- 1.The USD is currently range-bound as markets await key US inflation data (Import Prices) and Retail Sales figures.
- 2.Kevin Warsh has been confirmed as the new Federal Reserve Chairman, with investors monitoring his response to rising prices.
- 3.The Bank of Canada (BoC) is maintaining a patient stance but signaled potential hikes if energy prices remain high.
Table of Contents
- Analyst Team
- Overview
- USD Firm but Holds Narrow Range
- USDCAD (1.3713)
- EURUSD (1.1709)
- GBPUSD (1.3511)
- USDJPY (157.95)
- TODAY'S CALENDAR
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Authors
Shaun OsborneEric Theoret
Securities
DXYUSDCADEURUSDGBPUSDUSDJPY10-Year Treasury BondCNY
Themes
Central Bank Leadership TransitionsStagflationary TensionsGeopolitical Impact on FX
Regions
North AmericaEuropeUKUnited StatesCanadaJapan