USD Index weakens to 3-month lows near 107.40 – by pabspiovano DollarIndex Currencies Majors
The persistent risk-on trade keeps hurting the dollar.The dollar keeps losing ground and navigates an area last seen back in mid-August in the mid-107.00s when tracked by theThe index adds to Thursday’s post-CPI acute sell-off and flirts with the 107.50 region at the end of the week on the back of the robust performance of the risk complex and the loss of momentum in US yields across the curve.
In the meantime, investors’ repricing of a probable pivot in the Fed’s policy now emerges as a fresh and quite reliable source of weakness for the dollar, in line with a corrective decline in US yields across the curve.: US midterm elections. Hard/soft/softish? landing of the US economy. Prospects for further rate hikes by the Federal Reserve vs. speculation of a recession in the next months. Fed’s pivot. Geopolitical effervescence vs. Russia and China. US-China persistent trade conflict.
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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