USD Index focused on Powell, risk trends Fed
, which tracks the greenback vs. a bundle of its main rival currencies, managed to set aside part of the weekly bearish note and advance to the 102.70 region on Wednesday.The index takes advantage of the prevailing risk off tone following the opening bell in the Euroland and reverses two straight sessions with losses on Wednesday.
In the meantime, investors are expected to closely follow the participation of Chair J. Powell in a Policy Panel Discussion at the Meanwhile, the likelihood of another 25 bps hike at the Fed's upcoming meeting in July remains high, supported by the continued strength of key USThis view was further bolstered by comments from Fed Chief Powell at the June FOMC event, who referred to the July meeting as "live" and indicated that most of the Committee is prepared to resume the tightening campaign as early as next month.
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