The dollar index surged to its highest since May 2017 overnight after the Bank of Japan joined its counterpart in Canada in talking down the economic outlook.The BoJ said it would hold off from any interest rate increases for at least another year, sending the dollar briefly to a new 2019 high of 112.38 yen, although it has since retreated to 111.78, failing yet again to make a sustained break through the 112 level.

The dollar also hit a three-month high of $1.3509 against the Canadian dollar Wednesday, when the Bank of Canada cut its growth forecast for this year to 1.2% from 1.7%, and dropped language about the possible need for future interest rate hikes from its policy statement.

In fact, Durable Goods released by the US Census Bureau expanded at a monthly 2.7% during March, and the Initial Claims rose by 230K WoW vs 200K, whereas the continuing Jobless Claims for april was released as 1.655M vs 1.699M.