US Dollar Index: DXY bears prod 2023 bottom as US inflation clues prompt Fed policy pivot talks – by anilpanchal7 DollarIndex Inflation Fed RiskAppetite Recession
ous day amid three-day downtrend. In doing so, the greenback’s gauge versus the six major currencies highlight the market’s positioning for the Federal Reserve policy pivot after witnessing multiple downbeat clues of the US inflation.
It’s worth noting that the Minutes of the latest Federal Open Market Committee Monetary Policy Meeting signaled that the expectations for rate hikes were scaled back due to the turmoil in the banking sector. With this, the Minutes offered no fresh information and raised doubts about the hawkish Fed moves, apart from May’s 0.25% rate hike. That said, the CME’s FedWatch Tool signals a 68% chance of a 0.25% rate hike in March versus 71% marked the previous day.
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