US Dollar Price Forecast: Hawkish Warsh Lifts DXY as EUR/USD and GBP/USD Fall
The U.S. dollar begins August with fresh support from the Federal Reserve. Chair Kevin Warsh's remarks at Jackson Hole have increased the probability of a September rate hike to 57 percent, up from 35 percent. This has strengthened the DXY, which currently trades around 99.52 on the 2-hour chart. Meanwhile, the euro and pound remain vulnerable as their respective central banks show more hawkish tendencies.
EUR/USD is trading at 1.1601 after a sharp decline below the 1.1640 support area. GBP/USD is at 1.3545 after breaking below the 1.3598 support level, indicating a potential bearish correction.
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