US Dollar Index grinds higher past 103.50 as US inflation looms amid mixed Fed concerns – by anilpanchal7 DollarIndex RiskAppetite Fed Inflation China
In doing so, the US Dollar’s gauge versus the six major currencies portrays the market’s cautious mood amid firmer US data, mixed comments from the Federal Reserve officials and geopolitical fears surrounding “unidentified objects” which raised US-China tension.
Considering the data, Philadelphia Federal Reserve President Patrick Harker pushed back the chatters of a Fed rate cut during 2023. However, the policymaker did mention, “Fed not likely to cut this year but may be able to in 2024 if inflation starts ebbing.” Comments from Fed’s Harker were in line with Fedand Richmond Federal Reserve President Thomas Barkin who previously refrained from cheering upbeat US jobs report.
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