USD Index extends the recovery and approaches 103.00 – by pabspiovano DollarIndex Currencies Majors
US yields remain on the defensive on Wednesday., which tracks the greenback vs. a basket of its main rivals, climbs to multi-day highs near the 103.00 mark on Wednesday.The index resumes the uptrend and leaves behind Tuesday’s downtick mainly on the back of the pronounced sell-off of the Japanese yen in the wake of the BoJ monetary policy meeting earlier in the session.left no room for surprises and voted unanimously to keep the current ultra-accommodative stance unchanged vs.
In the docket, Producer Prices and Retail Sales will take centre stage seconded by MBA Mortgage Applications, Industrial Production, Business Inventories, the NAHB Housing Market Index, TIC Flows and the Fed’s Beige Book.The dollar keeps marching north and already trades at shouting distance from the key 103.00 barrier when tracked by the USD Index .
On the latter, the tight labour market and the resilience of the economy are also seen supportive of the firm message from the Federal Reserve and the continuation of its hiking cycle.: MBA Mortgage Applications, Producer Prices, Retail Sales, Industrial Production, NAHB Index, Business Inventories, Fed’s Beige Book, Net Long-term TIC Flows – Building Permits, Housing Starts, Philly Fed Manufacturing Index, Initial Jobless Claims – Existing Home Sales .
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