US Dollar Weekly Outlook: Weak Data Undermines Fed Hawkishness
Disappointing US data reduced expectations of Federal Reserve tightening, leaving the dollar under pressure while geopolitical tensions remained largely unchanged.
DXY
The US dollar had an unusual week, according to a weekly forecast. Geopolitical tensions involving the US and Iran remained largely unchanged, with only the usual back-and-forth between the parties.
What shifted was the domestic data picture. Disappointing US economic figures re-emerged, and markets trimmed expectations for potential Federal Reserve tightening.
That combination left the dollar struggling to hold gains, with the outlook clouded by weak data even as Fed hawks continued to circle.
Source: FXStreet Forex News