- US Dollar Index picks up bids to refresh intraday high, stays firmer at one-week top.
- Softer US trade numbers, inflation expectations fail to cool down hawkish Fed bets.
- Hopes of China easing its Zero-Covid policy favor cautious optimism even as global economic slowdown looms.
- Mixed sentiment, light calendar may restrict DXY moves ahead of next week’s FOMC.
US Dollar Index (DXY) stays mildly bid around 106.65 during Wednesday’s Asian session, up for the third consecutive day amid mixed clues. In doing so, the greenback’s gauge versus the six major currencies pokes the highest level in a week despite a light calendar.
That said, China’s state media underpins the market’s optimism by showing the dragon nation’s readiness to ease the three-year-old Zero-Covid policy. “Beijing readies itself for life again,” read a headline in the government-owned China Daily newspaper, adding that people were…
