Fed hawks keep the USD on the front-front. Lack of alternatives sees USD remaining as king. Get your weekly US Dollar forecast from JMcQueenFX here:
as rate differentials continue to move in favour of the greenback. Meanwhile, softer risk assets is also likely to keep the greenback underpinned and thus maintain a foothold above the 100 level.provided details on what quantitative tightening will look like when it is announced at the May meeting. However, much of the limelight had been stolen by Fed’s Brainard who emphasised that this is an inflation-fighting Federal Reserve who will look to over deliver with regard to policy tightening.
Looking ahead, on the domestic front we will see the latest round of inflation figures. However, with the direction of monetary policy clear for all to see with a 50bps hike alongside QT at the May meeting expected. The data is unlikely to have a notable impact for the near-term policy outlook and therefore, volatility in the dollar is likely to be muted, unless there is a significant deviation from expectations.
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