US Dollar Index(DXY) after dropping to a 15-month low on soft US inflation
US Dollar Index(DXY), which measures the US Dollar's perfomance against a basket of six currencies, shows slight gains after reaching a fresh 15-month low of 99.578.
June's US CPI grew 3.0% YoY, underperfoming the 3.1% forecast, while Core CPI fell by 0.5%.
Concurrently, June's PPI rose less than the expected 0.1% YoY.
Considering these conditions, markets now expect fewer Fed rate hikes post-July FOMC, forecasting a stable Federal Funds Rate around 5.25%-5.50% in 2023.
The US Dollar Index(DXY), which measures the US Dollar (USD) perfomance against a basket of six currencies, recovers some ground, as the DXY prints gains of 0.18% after hitting a fresh 15-month low of 99.578. At the time of writing, the DXY exchanges hands at 99.959, shy of reclaming the 100.000 figure.
US Dollar Index(DXY), which measures the US Dollar's perfomance against a basket of six currencies, shows slight gains after reaching a fresh 15-month low of 99.578.
June's US CPI grew 3.0% YoY, underperfoming the 3.1% forecast, while Core CPI fell by 0.5%.
Concurrently, June's PPI rose less than the expected 0.1% YoY.
Considering these conditions, markets now expect fewer Fed rate hikes post-July FOMC, forecasting a stable Federal Funds Rate around 5.25%-5.50% in 2023.
The US Dollar Index(DXY), which measures the US Dollar (USD) perfomance against a basket of six currencies, recovers some ground, as the DXY prints gains of 0.18% after hitting a fresh 15-month low of 99.578. At the time of writing, the DXY exchanges hands at 99.959, shy of reclaming the 100.000 figure.