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US Dollar Index probes DXY bears above 102.00 as Fed interest rate hike looms

Mount Equity Group Tokyo Japan > News > Markets > US Dollar Index probes DXY bears above 102.00 as Fed interest rate hike looms
  • US Dollar steadies after snapping three-day winning streak.
  • Market’s anxiety probes DXY bears as US stock futures fail to trace Wall Street, yields stabilize.
  • Downbeat US data, yields weighed on the USD the previous day.
  • Fed Chairman Jerome Powell has a tough task of defending US Dollar bulls amid dovish hike expectations.

US Dollar Index (DXY) portrays the typical pre-Fed anxiety by making rounds to 102.10 during early Wednesday. In doing so, the greenback’s gauge versus the six major currencies cites the market’s fears of a hawkish surprise from Fed Chairman Jerome Powell while battling the previous day’s downbeat US data and yields.

That said, the DXY dropped the most in a week while snapping a three-day uptrend on Tuesday as US employment cost numbers back the concerns surrounding easy inflation. The same joined the upbeat equity earnings to propel equities and weighed on the US Treasury bond…

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