US Dollar Index: DXY licks its wounds near 101.30 ahead of US inflation, bank survey report – by anilpanchal7 DollarIndex Inflation Fed Banks RiskAversion
doing so, the greenback’s gauge versus six major currencies benefits the latest hawkish Fedspeak and challenges
failed to divert the market’s attention from downwardly revised prior readings. That said, the US Bureau of Labor Statistics unveiled a jump in the headline Nonfarm Payrolls by 253K expected and revised down prior readings of 165K. Further, the Unemployment Rate also eased to 3.4% versus 3.5% market forecasts and the previous mark whereas Average Hourly Earnings improved to 4.4% YoY from 4.3% prior and analysts’ estimations of 4.2%.
It should be noted, however, that Federal Reserve’s dovish rate hike poured cold water on the face of DXY optimists in the last week.
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