US Dollar Weekly Forecast: The year-to-date rally appears unchanged

- The USD Index clinched its fifth straight week of gains. - Higher-than-estimated US CPI lent extra legs to the Greenback. - Markets now see the Fed reducing its interest rates in June. - Investors will now assess the upcoming FOMC Minutes. Another positive week saw the US Dollar gather extra steam and advance to fresh 2024 peaks at levels just shy of the key 105.00 barrier when gauged by the USD Index .

A parallel between th In the meantime, the increasing likeliness of a “soft landing” in the US economy , the still tight labour market and persistent uncertainty surrounding inflation prospects continue to prop up the view of later-than-expected rate cuts by the Fed. Somewhat soothing the above, Chicago Fed President Austan Goolsbee emphasized that even in the event of slightly higher inflation over the coming months, it would still align with the Committee’s trajectory toward the target.

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