Forex Analysis by Investing.com (Günay Caymaz) covering: EUR/USD, US Dollar Index Futures, US Dollar Index. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
The recent surge in the US dollar halted following mixed PMI data, hinting at potential volatility ahead of the CPI release.
Fed members have recently expressed caution regarding rate cuts, prioritizing inflation over employment. Such a stance suggests that dollar yields may remain elevated for a longer duration, leading to a potential appreciation of the dollar against major currencies. Alternatively, a support level at 104 is key, with the likelihood of accelerated dollar sales increasing if there is a downward break below 103.75.
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