A dreadful week for the Greenback ended with the USD Index (DXY) retreating to two-month lows near 102.30 as investors continued to price in a rate cut in June, while the move lower in US yields also accompanied the downside in the Dollar.
A dreadful week for the Greenback ended with the USD Index retreating to two-month lows near 102.30 as investors continued to price in a rate cut in June, while the move lower in US yields also accompanied the downside in the Dollar. Closer to home, the ECB left its policy rates unchanged, as expected, while investors also see the central bank starting its easing cycle in June. The USD Index navigated a “sea of red” this week, accelerating its losses to the low-102.
An interesting UK calendar next week will see the release of the labour market report on March 12, seconded by GDP figures, Construction Output, Goods Trade Balance, Industrial and Manufacturing Production, and the NIESR Monthly GDP Tracker, all due on March 13. USD/JPY increased its weekly decline to fresh five-week lows near 146.50 on the back of the deep sell-off in the Greenback and investors’ speculations of a potential BoJ lift-off later in the month.
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