USD Index meets some resistance near 103.80 ahead of Powell – by pabspiovano DollarIndex Currencies Majors Fed
US yields also give away part of the recent marked rebound., comes under some downside pressure and recedes from tops near 103.80 on turnaround Tuesday.After three consecutive daily advances, some loss of momentum in the buying interest around the dollar now drags the index to the 103.50/40 band after climbing to multi-week highs near 103.80 at the beginning of the week.
Indeed, DXY trades in a context of rising expectation ahead of the participation by Chair Powell in a discussion panel at the Economic Club of Washington later in the European evening. Powell’s event has grown in importance as of late, particularly following the solid prints from January Nonfarm Payrolls .space, December’s Balance of Trade figures are due followed by the Consumer Credit Change and the speech by FOMC’s M.Barr .
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