Fed's Beige Book: Overall economic activity has remained relatively stable Fed DollarIndex
, the Producer Price Index and Retail Sales, which showed disinflationary tendencies in the data, reinforced expectations that the Fed will continue to reduce its tightening pace in upcoming meetings.However, hawkish Federal Reserve speakers have seen markets come under pressure again, fuelling a bid back into the US Dollar:. A correction of the bid could be expected to meet the 102.00/20s in the coming sessions as the price reverts to the neckline of the pattern in a 38.2% Fibonacci correction.
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