USD Index faces some selling pressure near 100.30 ahead of US data – by pabspiovano DollarIndex Currencies Majors
US yields attempt a modest recovery so far on Thursday.The greenback bounces off earlier lows near the 100.00 region when gauged by theThe index so far manages well to keep the trade above the psychological 100.00 mark in a context of alternating risk appetite trends.
In the meantime, investors largely expect the Federal Reserve to hike rates by 25 bps next week, although a similar move beyond the summer seems to have lost traction as of late, particularly in the wake of lower-than-estimated US inflation figures in June. In the near term, there are no changes to the perception that the Fed would resume its tightening process later in the month despite persistent disinflationary pressures and the still tight labour market.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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