US Dollar Index slides towards 109.00 as inflation concerns, full markets favor DXY bears ahead of Fed – by anilpanchal7 DollarIndex Fed Inflation RiskAppetite CentralBanks
Softer US housing market data joined downbeat inflation expectations to weigh on the DXY amid a sluggish start to the key week.
On the contrary, the CME’s FedWatch tool hints at 82% chance of the 75 basis points of a Fed rate hike during Wednesday’s monetary policy meeting. Also, the tool signals around 18% odds favoring the full one percent upside in the rate by the Fed. On Monday, US President Joe Biden said, “I'm more optimistic than I have been in a long time.” The national leader also stated that they are going to get control of inflation. However, US President Biden’s readiness to back Taiwan in case China attacks Taipei and the hawkish hopes for the Fed seemed to weigh on theahead of the key monetary policy announcements.
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