USD Index gathers some balance around 102.40 ahead of Fedspeak – by pabspiovano DollarIndex Currencies Majors
Investors continue to digest Friday’s Nonfarm Payrolls figures., regains some composure following Friday’s post-NFP sharp sell-off and revisits the 102.40 zone at the beginning of the week.The index picks up some buying interest following two consecutive daily pullbacks on Monday as investors continue to adjust to Friday’s release of the June Payrolls , while expectations for a 25 bps rate hike remain largely unchanged for the time being.
On the speculative front, net longs in the USD receded to 3-week lows in the week ended on July 3, a period where the index entered some consolidative range prior to the release of the crucial jobs report.speakers: M. Barr , San Francisco Fed M. Daly , Cleveland Fed L. Mester , and Atlanta Fed R. Bostic .
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