Bank of America Global Research discusses the USD seasonality during the month of May.
"The USD tends to be strong during the month of May. The Bloomberg US dollar index was up 12 of the last 16 times in May for an average gain of 1.1%," BofA notes.
"The DXY was up 26 of the last 40 times in May for an average gain of 0.80%. In G10, the USD is strong vs EUR, GBP, NZD, CAD, NOK and SEK," BofA adds.