US Dollar gives up some ground ahead of FOMC minutes, but bulls remain in play DollarIndex Currencies Fed
of late. At the time of writing, DXY is trading at 104.30 and it has ranged between a low of 104.006 and a high of 104.415 so far.
The US data of late has eased recession fears but it has also reinforced worries that the Fed needs to stay higher for longer in terms of its interest rate hiking path. On top of a slew of past data, the latest survey data released on Tuesday showed US business activity unexpectedly rebounded in February to reach its highest in eight months and St. Louis Fed President James Bullard reinforced the hawkish sentiment ahead of the Fed minutes on Wednesday.
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