- Analytics
- News and Tools
- Market News
- US Dollar Index to drift towards the 105.00/105.50 area on a hawkish Fed – ING
US Dollar Index to drift towards the 105.00/105.50 area on a hawkish Fed – ING
Dollar regains strength as focus shifts to Powell's testimony. Economists at ING expect the US Dollar Index (DXY) to edge higher towards the 105.00/50 region on a hawkish Federal Reserve.
Powell sticks to his hawkish script
“Richmond Fed President Thomas Barkin said that the Fed should raise rates as fast as possible without breaking anything. Expect this message to be communicated again today when Powell delivers his semi-annual testimony to the Senate.”
“The Fed's terminal rate priced for 2023 is currently near 3.60% (off a recent high at 3.90%) and could go higher again on Powell's testimony. Presumably, that should see some bearish flattening of the US yield curve – which is a dollar positive.”
“DXY could drift towards the 105.00/105.50 area on a hawkish Fed and a difficult international environment that is seeing Asian FX come under pressure again.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
