The greenback gathers extra steam and surpasses the 104.00 barrier to print new multi-week peaks when tracked by the USD Index (DXY) at the end of the
Chair Powell will speak later at the Jackson Hole Symposium.The greenback gathers extra steam and surpasses the 104.00 barrier to print new multi-week peaks when tracked by theThe index adds to Thursday’s gains and surpasses the 104.00 hurdle for the first time since early June amidst rising cautiousness ahead of the speech by Chief J. Powell at the Jackson Hole Symposium later in the European afternoon.
In the meantime, support for the dollar keeps coming from the good health of the US economy, which seems to have reignited the narrative around the tighter-for-longer stance from the Federal Reserve. Persistent debate over a soft or hard landing for the US economy. Incipient speculation of rate cuts in early 2024. Geopolitical effervescence vs. Russia and China.Now, the index is up 0.16% at 104.15 and the breakout of 104.27 would open the door to 104.69 and finally 105.88 . On the opposite side, immediate support appears at 103.12 followed by 102.32 and then 101.74 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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