US Dollar under pressure as dovish Fed bets return on banking woes – by eren_fxstreet DollarIndex Macroeconomics Fed UnitedStates
Dovish Fed bets weigh on US Treasury bond yields and force US Dollar lndex to push lower.The US Dollar struggled to find demand during the American trading hours on Tuesday and snapped a three-day winning streak. The USD stays under selling pressure mid-week and the DXY stays in negative territory as investors lean toward a dovish tilt in the Federal Reserve's policy outlook ahead of the interest rate announcement.
FOMC Chairman Jerome Powell will comment on the policy outlook and respond to questions from the press starting at 18:30 GMT. The US Bureau of Labor Statistics announced that the number of job openings on the last business day of March stood at 9.59 million, compared to 9.97 million in February. This reading came in below the market expectation of 9.77 million.
US regulators seized First Republic Bank and agreed to sell a majority of its assets to JPMorgan Chase & Co. Last week, the bank reported that there were more than $100 billion of deposit outflows in the first quarter. On the downside, the DXY could face first support at 101.00 before bears could aim for the key 100.00 psychological level.
buying assets, such as government bonds, in the open market to spur growth and QT is exactly the opposite. QE is widely seen as a USD-negative central bank policy action and vice versa.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.
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