The US Dollar (USD) is doing a little better as investors prepare for the FOMC meeting. Economists at ING analyze
Greenback’s outlook.
The USD still seems to be lagging the recent pick-up in US rates
Consensus is not looking for any significant changes in the statement or the Fed's economic projections. If there is a risk, it lies in a less dovish/mildly Dollar positive outcome.
The Dollar still seems to be lagging the recent pick-up in US rates and even if the Fed did stick with three expected cuts this year, we doubt the Dollar would sell off for long. We really need to see the data turn lower for a noticeable Dollar bear trend to now emerge.
DXY to stay bid in a 103.50-104.00 range heading into the FOMC meeting.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
Hot
No comment on record. Start new comment.