A back up in short-term rates could frustrate Dollar bears in the near term – ING
Source Fxstreet
The consensus view in 2024 is that the Dollar will decline. Economists at ING agree but with some caveats.
Back up in short-term rates is a Dollar positive
We sympathise with the increasing consensus view that the Dollar will trend lower in 2024. However, we think markets are wrong to price Fed rate cuts as soon as March, and a rebound in short-dated USD yields could give the Dollar breathing room in the near term.
The kind of rangebound trading seen so far in January may be the norm for a bit longer in G10.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Gold (XAU/USD) trades lower for the second consecutive day on Friday, but remains contained within previous ranges, with downside attempts limited above the $4,500 line for now.
Silver price (XAG/USD) rises nearly 4% after registering losses in the previous day, trading around $78.50 per troy ounce during the Asian hours on Monday.
Here is what you need to know on Monday, May 25:
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