US Dollar bulls move in and eye 104s DollarIndex Fed Technical Analysis CentralBanks
102.80 guards prospects of a downside continuation towards 101.00 February lows.
The US Dollar index, DXY, which weighs the greenback vs. a basket of currencies was touching its lowest level since Feb. 15 at 103.27. However, there are still concerns over regional US banks. First Republic shares tumbled as much as 50% on Monday and were last down about 39%.
Analysts at TD Securities explained that they ´´expect a 25bp rate hike at next week's FOMC meeting, taking the Fed Funds rate to 4.75%-5.00%. Post-meeting communication is likely to emphasize that the If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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