The US Dollar (USD) trades broadly flat on Friday after it got put back to square one on Thursday amid another round of weak economic data Another red housing data point together with a softer reading on nearly all fronts in the second US Gross Domestic Product reading for the first quarter was enough to weaken the Greenback back to levels seen at...
The US Dollar trades roughly flat ahead of the US session. Markets are digesting the conviction of former President Donald Trump. The US Dollar Index trades in the higher 104.00 level with 105.00 in reach.
Tensions are high with a big army of Fed officials constantly coming out, warning markets that rates will need to stay higher for longer, might even hike once more and that an initial rate cut might not even be for 2024. Meanwhile, the prepositioning patience of traders in risk-on assets is starting to run out and might spiral into equities over the summer if no clear time frame is starting to get formed on the Fed’s monetary path ahead.
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