USD Index revisits the contention area around 105.30 ahead of key data – by pabspiovano DollarIndex Currencies Majors
The dollar appears weak following Powell’s remark on Wednesday., adds to Wednesday’s pullback and drops to the 105.30 region, where decent contention has so far emerged.The index retreats for the second session in a row and navigates the low-105.00s amidst increasing bearishness surrounding the buck, which was particularly, exacerbated after Chair Powell reinforced the case for a slower pace of future interest rate hikes.
Furthermore, Dallas Fed L.Logan and FOMC’s Governors M.Bowman and M.Barr are also due to speak ahead of the Fed’s blackout period.The dollar loses further ground and puts once again the contention area near 105.30 to the test in the wake of Powell’s speech and amidst the solid rebound in the risk complex.
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