USD Index looks flat around 104.50, looks at data, yields – by pabspiovano DollarIndex Currencies Majors
US yields lack traction following Friday’s marked pullback., alternates gains with losses in the mid-104.00s at the beginning of the week.The index starts the week in an inconclusive mood around the 104.50 zone, as investors seem to have digested Friday’s marked retracement against the backdrop of the absence of traction in US yields and some tepid improvement in the risk complex.
According to CME Group’s FedWatch Tool, the probability of a 25 bps rate hike at the March 22 meeting remains the most likely outcome at 75%. The probable pivot/impasse in the Fed’s normalization process narrative is expected to remain in the centre of the debate along with the hawkish message from Fed speakers, all after US inflation figures for the month of January showed consumer prices are still elevated, the labour market remains tight and the economy maintains its resilience.
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