The US Dollar extends its rally to a three-day winning streak.
Traders are diving into the Greenback on Fed’s Waller hawkish tilt.
The US Dollar Index jumps to a new high for March.
The US Dollar (USD) rallies and rejoices with the return of King Dollar after Fed Board Member Christopher Waller has pulled the plug on a June interest-rate cut. The Greenback is rolling through the markets and is up against every major G20 peer. Markets are heading into the direction of fewer and later rate cuts while the economy and inflation flair up.
A very chubby calendar is ahead on Thursday, although many data are finalreadings from preliminary estimates and thus have less potential to move markets. Examples of these are the US Gross Domestic Product reading for Q4 and the University of Michigan numbers for March. Rather look for the Jobless Claims and the Chicago Purchasing Managers Index (PMI) to trigger a bit of follow-through in the US Dollar strength this Thursday.
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