US Dollar Index Hovers Near 100.50 as Fed Hike Bets Fade
The US Dollar Index consolidates near 100.50, close to a multi-week low, as expectations of further Fed rate hikes diminish.
DXY
The US Dollar Index (DXY) is consolidating around the 100.50 level during Asian trading on Thursday, remaining near the multi-week low reached the previous session.
Traders are scaling back bets on additional Federal Reserve rate hikes, weighing on the greenback. The index has been under pressure as markets reassess the pace of monetary tightening.
No fresh catalysts have emerged to reverse the dollar's recent weakness, keeping DXY pinned near the 100.50 support zone.
Source: FXStreet Forex News