US Dollar Index remains under pressure near 108.00 ahead of key data – by pabspiovano DollarIndex Currencies Majors Inflation CPI
US yields keep the trade in the upper end of the recent range.The greenback, when tracked by theUS Dollar Index focuses on US CPI
In fact, price action in the dollar remains subdued and comes amidst the generalized downtick in US yields across the curve. Furthermore, investors continue to lean towards a 75 bps rate raise at the Fed’s September 21 meeting, with CME Group’s FedWatch Tool signalling a probability of nearly 90% of that scenario.
Other than the CPI results, the NFIB Business Optimism Index and the IBD/TIPP Economic Optimism index are also due later.The index has embarked on a corrective path from last week’s cycle highs and keeps hovering around the 108.00 neighbourhood ahead of the CPI release on Tuesday. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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