US Dollar Index Advances towards 102.00 on Hawkish Fed Bets and First Republic Woes
The US Dollar Index (DXY) has been in a bullish trend since the beginning of 2023, as it has been supported by the hawkish stance of the Federal Reserve and safe-haven demand amidst market uncertainties. The recent pullback in late Friday’s trading session was quickly reversed during the early hours of Monday, as the market fears surrounding the First Republic bank and the hawkish Fed bets supported the DXY’s safe-haven appeal.
Things to Watch Ahead in the Market this Week | Forex Traders Market Watch
Investors trying to gauge the inflation threat will keep a close eye on Thursday’s U.S. consumer price data, amid concerns that rising inflation could prompt the Federal Reserve to begin pulling back on stimulus. Markets will also be monitoring the progress of President Joe Biden’s proposed $1.7 trillion infrastructure plan, which has already boosted the […]