USD Index remains on the defensive well below 103.00 ahead of key data – by pabspiovano DollarIndex Currencies Majors
US yields give away part of the advance recorded on Monday., which tracks the greenback vs. a bundle of its main rival currencies, drops to 2-day lows and revisits the 102.60/55 band on Tuesday.The index drops for the second session in a row and approaches the 102.50 region on the back of further improvement in the risk complex and the so far corrective decline in US yields across the curve.with investors’ repricing of a potential “on hold” decision at the Fed’s gathering in May.
So far, speculation of a potential Fed’s pivot in the short-term horizon should keep weighing on the dollar, although the still elevated inflation, the resilience of the US economy and the hawkish narrative from Fed speakers are all seen playing against that view for the time being.
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