During Wednesday's trading session, the USD did not fluctuate much, which caused many currency pairs to become gloomy. The DXY index has been maintaining an uptrend recently, however the upward momentum has weakened in the absence of further information coming from the interest rate market, and this will likely continue until the announcement. US inflation report is released on Thursday.
The market is still expecting the Fed to reduce interest rates by 150 bps this year with the first reduction starting in March.
The market is still expecting the Fed to reduce interest rates by 150 bps this year with the first reduction starting in March.
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TP1: 1.0992
TP2: 1.1052
SL: 1.0900