During a very constructive week, the US Dollar (USD) managed to regain some composure and end its first week in positive territory after three consecutive declines, motivating the USD Index (DXY) to reclaim the area beyond 103.00 in the latter part of the week.
The USD Index managed to reverse part of the recent drop. Markets largely anticipate the Fed to trim its rates in June. US inflation remained sticky in February. Investors now debate how many rate cuts the Fed can deliver. During a very constructive week, the US Dollar managed to regain some composure and end its first week in positive territory after three consecutive declines, motivating the USD Index to reclaim the area beyond 103.00 in the latter part of the week.
Growing debate: How many rate cuts? Data-wise, investors were closely following the release of US inflation figures gauged by the CPI and PPI, which turned out to come on the strong side of markets’ expectations, which in turn morphed into a fresh bout of oxygen for the Greenback and the USD Index . Extra legs to the Dollar’s recovery also emerged from fewer-than-expected Initial Jobless Claims during the week ended on March 9, propping up the view of a still tight labour market.
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