he 1.3500 psychological mark, down nearly 0.10% for the day, and is pressured by a combination of factors.hold steady near a multi-month top touched last week in reaction to a new round of production cuts announced by the OPEC+, which, to a larger extent, overshadows concerns that weakening global growth may dent fuel demand.
In fact, the USD Index, which tracks the Greenback against a basket of currencies, surrenders its modest intraday gains amid the uncertainty over the Federal Reserve's rate hike path. The mostly upbeatreleased on Friday revived bets for another 25 bps lift-off at the next FOMC meeting in May. Market participants, however, seem convinced that the Fed will cut rates in the second half of the year amid signs of slowing economic growth.
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