USD Index extends the rebound from lows near 102.00 DollarIndex Currencies Majors
Investors started to assess the potential Fed’s move in July.tracks the greenback, which starts the week on the positive foot and revisits the 102.40 region, marking an increase for the second session in a row so far.The index rises for the second session in a row and attempts to put further distance from last week’s multi-week lows around the 102.00 neighbourhood , as the recent upbeat mood in the risk complex appears to take a breather at the beginning of the week.
On another front, net longs in the greenback rose to the highest level since early April in the week ended on June 13, just ahead of the crucial FOMC event considering the latest CFTC report. Meanwhile, the likelihood of another 25 bps hike at the Fed's upcoming meeting in July remains high, supported by the continued strength of key USChief Powell at the June FOMC event, who referred to the July meeting as "live" and indicated that most of the Committee is prepared to resume the tightening campaign as early as next month.: NAHB Housing Market Index – Building Permits, Housing Starts – MBA Mortgage Applications.
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