USD INDEX RESUMES THE UPTREND AND REGAINS 102.30
The index regains the smile and retest the 102.30 area.
Fed’s Bowman advocated for further tightening if needed.
US inflation figures will be the salient event this week.
The greenback, when gauged by the USD Index (DXY), leaves behind part of the recent weakness and reclaims the area around 102.30 as the risk-off mood seems to prevail early on Monday.
USD Index regains traction on Fed, risk-off
The index trades in an upbeat note on the back of renewed buying interest around the greenback at the beginning of the week.
In fact, the dollar picks up pace following comments from FOMC M. Bowman over the weekend, when she defended further tightening in case the recent progress in inflation falters. In this line, Bowman did not rule out another rate hike at the next gathering.
In the meantime, investors continue to digest Friday’s Nonfarm Payrolls figures ( 187K), which showed that job creation seems to have cooled down during last month, although wage inflation held steady and the jobless rate ticked lower.
In the US data space, Consumer Credit Change will be the only release of note later in the NA session along with short-term bill auctions.
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