DXY Index is currently trading at 104.15 with mild losses.
March’s CPI report is due on Wednesday, investors will monitor its outcome for more direction on the economy's health.
Markets still expect the Fed’s easing cycle to start in June.
The US Dollar Index (DXY) is currently trading at a modest loss at the 104.15 level. Mild market fluctuations for the USD continue to make waves as the Federal Reserve’s (Fed) cautious stance is calibrated in light of incoming data. Hot labor market figures reported last week may justify the delay of the easing cycle, while Fed officials ask for patience.
The US economy has yet to show clear evidence of a moderation of inflation and economic activity, which makes the Fed comfortable to start cutting rates. In case data shows a resilient economy and easing expectations adjust, the USD may see further upside.
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