US Dollar Neutral Near 101.20 as Fed Rate Hike Bets Persist

The US Dollar Index (DXY) held steady near the 101.20 level on Tuesday, reflecting a neutral tone in the market. Traders digested a mixed batch of US economic data while maintaining bets that the Federal Reserve could still raise rates further.

The dollar's range-bound action came despite persistent hawkish Fed commentary, which typically supports the greenback. However, the mixed data outcomes tempered any decisive directional move, leaving the index in a narrow trading band.