Sentiment-driven and volatile amid competing cross currents – DBS
Source Fxstreet
The Dollar Index (DXY) ended Tuesday barely changed at 102.54 after trading below and above Monday’s range of 102.37-102.62, DBS’ FX strategist Philip Wee notes.
The Fed is trying to get its ‘balanced’ message across
“DXY initially fell to a low of 102.29 during the Asian session and rose to 102.64 during the European session before ending the US session at 102.54.”
“Despite the futures market withdrawing bets for another 50 bps cut at next month’s FOMC meeting, the US Treasury 2Y yield eased, for the first time in five sessions, by 3.7 bps to 3.958% after failing to break above 4% on Monday.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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With the ECB likely holding rates steady at 2.15% and the Fed potentially extending cuts into 2026, EUR/USD may test 1.20 if Eurozone growth proves resilient, but weaker growth and an ECB pivot could pull the pair back toward 1.13 and potentially 1.10.
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