US Dollar Index: Two-way risks within bearish channel – OCBC
OCBC’s Christopher Wong notes that the Dollar Index (DXY) has eased alongside lower UST yields after Fed Governor Waller signalled a preference to keep rates unchanged in September if disinflation persists.
ING analyst Chris Turner has pointed out that recent dovish comments from Federal Reserve official Christopher Waller have contributed to a decline in US yields and the Dollar, while simultaneously boosting equities and high-yielding foreign currencies. Markets currently price a 50% chance of a September Fed hike, with little impact anticipated from US jobs data. Turner anticipates the DXY to face resistance and experience a slight downward drift in the short term.
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- US Dollar: Short-term downside risks – ING fxstreet.com
