USD Index bounces off lows and regains 104.00 ahead of FOMC – by pabspiovano DollarIndex Currencies Majors
The key ISM Manufacturing surprised to the downside in December.Following an earlier drop to daily lows near 103.80, theUSD Index looks offered ahead of FOMC Minutes
The downbeat mood in the buck is also underpinned by another negative session of US yields across the curve, leaving the pessimism in the first week of the new trading year unchanged so far. Meanwhile, the Fed’s pivot narrative remains in the freezer for the time being, although upcoming key results in US fundamentals would likely play a key role in determining the chances of a slower pace of the Fed’s normalization process in the next months.
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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