Following the recent drop to five-week lows, the US Dollar (USD) managed to stage quite a marked comeback in the past five days.
The USD Index bounced off multi-week lows near 104.00. Fed ’s rate cut bets in September lost momentum Fed speakers lean towards a cautious note regarding rate cuts. A week of recovery for the Greenback Following the recent drop to five-week lows, the US Dollar managed to stage quite a marked comeback in the past five days. That said, the USD Index reclaimed the area beyond the 105.00 barrier in tandem with the equally firm bounce in US yields and hawkish FOMC Minutes.
They emphasized the need for caution before approving the first rate cut to avoid triggering pent-up spending, which could cause inflation volatility.
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