US Dollar Index: DXY renews six-week high around mid-103.00s as Fed Minutes flag inflation woes

US Dollar Index (DXY) bulls take a breather after refreshing the six-week high, making rounds to 103.50 amid Thursday’s Asian session, as market playe

rs seek more clues to defend the latest run-up. That said, the DXY cheered hawkish Minutes of the Federal Reserve’s latest monetary policy meeting, as well as the risk-off mood to print a five-day uptrend by the end of Wednesday’s North American session.

It should be noted that the recently firmer US data also underpin the hawkish bias about the Federal Reserve’s next moves and propel the DXY. That said, the US Industrial Production marked a surprise 1.0% growth for July versus 0.3% expected and -0.8% prior while the Capacity Utilization for the said month also improved to 79.3% from 78.6%, compared to market forecasts of 79.1%. Further, the Building Permits edged higher to 1.442M for July from 1.441M whereas the Housing Starts rose to 1.

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