Dollar Index Stalls Near 100.00 as Fed Hike Bets Fade
The US Dollar Index is struggling to extend its post-CPI bounce above the 100.00 level and is edging lower in Asian trading as expectations for further Fed tightening diminish.
DXY
The US Dollar Index (DXY), which measures the greenback against a basket of major currencies, remains capped around the 100.00 psychological mark. After a bounce following CPI data, the index has failed to build follow-through momentum and is drifting lower during the Asian session.
Softness in the dollar comes as market participants scale back expectations for additional Federal Reserve rate hikes, reducing a key source of support. Traders are watching whether the index can hold near 100.00 or extends its pullback.
Source: FXStreet Forex News