The recent movements of the US dollar have been impacted by American economic data and the policies of the Federal Reserve. Currently, the dollar index (DXY) is holding steady between the support level of 100-101 and the resistance level of 103.
The stance of Federal Reserve officials is also affecting the dollar's movements$USD Index(USDindex.FOREX)$ . However, if the US economic data continues to be positive, the Fed may raise interest rates, which could have a positive impact on the dollar.
Therefore, short-term outlook for the dollar is still uncertain.
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Comments
So will the Fed raise interest rates eventually?
Thank you for sharing your expertise with us common folk! 🙏