USD Index keeps the tight range near 104.50 ahead of data – by pabspiovano DollarIndex Currencies Majors
US yields extend the drop to multi-session lows on Monday.The lack of a clear direction prevails around the greenback and motivates theUSD Index cautious ahead of data, lower yields
In fact, the dollar kicks in the new trading week in an offered mood. This stance remains underpinned by fresh speculation that the Fed might not raise rates as high as previously estimated, which remains in stark contrast to the ongoing “aggressive” narrative from most Fed’s rate setters. Later in the US docket, Factory Orders for the month of January will take centre stage followed by 3-month/6-month Bill Auctions.The index keeps the erratic performance well in place around the 104.50 region so far.
The loss of traction in wage inflation – as per the latest US jobs report - however, seems to lend some support to the view that the Fed’s tightening cycle have started to impact on the still robust US labour markets somewhat.
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