US Dollar Index advances towards 107.20 on higher estimates for the US Inflation – by Sagar_Dua24 DollarIndex Fed InterestRate Inflation Employment
Job additions in the US economy remained higher at 372k than the estimates of 268k.index has displayed a decent buying action in early Tokyo after defending the crucial support of 108.86. The DXY witnessed a steep fall on Friday after printing a fresh 19-year high of 107.79. The asset fell sharply after the release of the US Nonfarm Payrolls .The greenback bulls are expected to underperform despite the upbeat US data.
No doubt, the outperformance of the US economy on the labor market front will empower the Federal Reserve to announce extreme rate hikes without much hesitation.As per the market consensus, the plain-vanilla US Inflation is expected to climb to 8.7% vs. 8.6% reported earlier. However, the core CPI may slip to 5.7% from the prior print of 6%.
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