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United States Dollar Index softens below 100.00 as softer PPI dampens Fed hike odds - tmgm.com
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United States Dollar Index softens below 100.00 as softer PPI dampens Fed hike odds tmgm.com
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United States Dollar Index weakens as cooling US inflation eases Fed rate hike odds - tmgm.com
ING THINK
FX Daily: Benign CPI takes sting out of dollar’s upside
The market reacted to a softer-than-expected US CPI print by pushing the DXY dollar index down by 0.5%, signaling a recalibration of Fed tightening expectations. Per the full note from ING, this release has prompted a 10bp reduction in projected Fed rate increases, reflective of market sentiment that a pause in rate hikes is more plausible. Additionally, various high-yield commodity currencies are poised to benefit from this inflation backdrop. This sentiment comes ahead of today's PPI data and further Federal Reserve commentary, which may reinforce or mitigate the dollar’s current trajectory.
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