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US Dollar Forecast: ’Buy the Dip’ Mentality Persists for DXY Index, USD/JPY
Mixed US economic data in recent days – a surprising drop in August US JOLTs and a surprising beat in the September US ISM services PMI – leaves the US Dollar (via the DXY Index) on tenuous footing ahead of the September US jobs report on Friday. ‘Good news is good news’ for the US Dollar, insofar as anything that points to a resilient US economy gives the Fed the evidence it needs to continue raising rates, which in turn translates into higher US Treasury yields. While EUR/USD and GBP/USD rates have rallied at the start of October, if US Dollar strength emerges, no pair may be better suited for a ... (full story)
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- Posted: Oct 5, 2022 3:40pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 1,195
