The Greenback remains off-kilter following the Fed’s recent pivot into a rate-cutting cycle.
Last week, the US central bank delivered a jumbo 50 bps rate cut. The US Dollar remains under pressure, but markets have quickly pivoted to more impatient waiting for the next rate call. Here is what you need to know on Tuesday, September 24: The US Dollar Index remains pinned on the low end following the Fed eral Reserve’s 50 bps rate slash last week. The DXY continues to clatter along the floor, grinding sideways just above the 100.50 level.
00 handle, and the pair is struggling to develop meaningfully-bullish legs as the Yen continues to grind into fresh highs against the US Dollar. JPY traders will be keeping an eye out for Bank of Japan Governor Kazuo Ueda on Tuesday, with Japanese Tokyo Consumer Price Index inflation figures due later in the week. AUD/USD found a new nine-month high on Monday, testing north of 0.6850 for the first time since last December.
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