US Dollar Index: DXY eases above 104 as FOMC Minutes loom, focus on Fed bets, yields – by anilpanchal7 DollarIndex Fed RiskAppetite YieldCurve PMI
Upbeat US data, geopolitical fears underpinned the DXY’s rise on Tuesday.
That said, the greenback’s gauge versus the six major currencies rose the most in one week the previous day as the US business activity numbers matched the likes of previously published US inflation numbers, Retail Sales and employment data. Also fueling the DXY were the market’s geopolitical fears surrounding China and Russia.
The strong data helped the FEDWATCH tool to suggest that the money market participants see the benchmark level peaking at 5.3% in July, and staying near those levels throughout the year, versus 5.10% expected by the US Federal Reserve .
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