The Greenback ended the week barely changed after the sharp increase recorded in the previous one, despite hitting new five-month peaks in the boundaries of 106.50 when tracked by the USD Index (DXY) on April 16.
The USD Index met decent resistance near 106.50. Investors now see the Fed cutting rates in September. Hawkish Fed speak and solid US economic data sustain a delay in cutting interest rates. The upcoming Q1 GDP figures take centre stage next week. The Greenback ended the week barely changed after the sharp increase recorded in the previous one, despite hitting new five-month peaks in the boundaries of 106.50 when tracked by the USD Index on April 16.
His colleague John Williams, New York Federal Reserve Bank President, emphasized that the Fed's decisions are based on positive data, highlighting the strength of the economy and the mitigation of imbalances. While acknowledging the need for rate cuts, he clarified that there are no predetermined hikes, noting that if the data indicate a need for higher rates, the Fed may adjust accordingly.
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