US Dollar Index: DXY bulls prod 102.00 amid hawkish Fed concerns, upbeat Treasury bond yields – by anilpanchal7 DollarIndex Fed YieldCurve RiskAversion Inflation
Fed policymakers defend “higher for longer” rate bias and propel yields.Second-tier US data, risk catalysts eyed amid jittery markets.Index picks up bids to reverse the late Wednesday’s pullback moves, as well as renew intraday high around 102.00, amid the early hours of Thursday’s Asian session. In doing so, the greenback’s gauge versus the six major currencies cheers hawkish concerns about the Federal Reserve , as well as geopolitical fears, after a volatile day.
Previously, St. Louis Federal Reserve President James Bullard, Richmond Fed President Thomas Barkin and Atlanta Fed President Raphael W. Bostic were the Fed speakers who rekindled the “higher for longer” scenario forIt should be noted that the recently firmer US data and hawkish Fed talks favor the market’s bets on the central bank’s 0.25% rate hike in May, as well as reduce the probability of witnessing a rate cut in 2023.
On Wednesday, Reuters came out with the news suggesting that US consumers are starting to fall behind on their credit card and loan payments as the economy softens.
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