The DXY fluctuated strongly overnight as markets returned after the Thanksgiving weekend.
Comments from Federal Reserve members provided mixed sentiments
- Member Bullard stated that the “Fed will have to pursue rate hikes into 2023” as markets were "underestimating chances of higher rates"
- Member Barkin indicated that he was supportive of a rate path that was “slower, longer but potentially higher.”
- Member Williams said that the "US economy at greater risk of shock that could cause recession"
The DXY currently trades at 106.25 as it reverses from the overnight high of 106.70, with further downside potential toward the key support level of 105.60 and 104.65 likely.
Comments from Federal Reserve members provided mixed sentiments
- Member Bullard stated that the “Fed will have to pursue rate hikes into 2023” as markets were "underestimating chances of higher rates"
- Member Barkin indicated that he was supportive of a rate path that was “slower, longer but potentially higher.”
- Member Williams said that the "US economy at greater risk of shock that could cause recession"
The DXY currently trades at 106.25 as it reverses from the overnight high of 106.70, with further downside potential toward the key support level of 105.60 and 104.65 likely.
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