U.S. Dollar Ripe to Rebound as Death of Fed Hikes Was Greatly Exaggerated

[kreslik.news]

Last week’s volatile price action by the March U.S. Dollar Index was all about the pace and the timing of the expected Fed rate hikes. The greenback broke sharply for two days last week on negative news about the pace of the rate increases, but managed to rebound at the end of the week, following the release of more upbeat news.

The U.S. dollar broke sharply on February 3 when the U.S. ISM Non-Manufacturing PMI data missed the estimate. The report showed a reading of 53.5 versus an estimate of 55.1. It also meant that the U.S. services sector expanded ... (read more)