US Dollar Index looks to test 101.60 as odds of less-hawkish Fed bets soar – by Sagar_Dua24 DollarIndex Fed Inflation RetailSales RiskAppetite
More than 94% chances are in favor of a 25 bps rate hike by the Fed to 4.50-4.75%.The US Dollar Index
has sensed barricades whiling an attempt of sustaining above the critical resistance of 101.80 in the Asian session. This has led to a fall in the USD Index, which is set to test the fresh seven-week low at 101.60. The USD index could remain lackluster on Monday as United States markets will remain closed on account of Martin Luther King’s Birthday.has extremely improved as the Federal Reserve is set to slowdown its policy tightening pace further.
Apart from that, the monthly Retail Sales data is expected to expand by 0.1% vs. the former contraction of 0.6%. A recovery in the retail demand led by the upbeat labor market could provide some support to the USD Index ahead.
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