US Dollar Index: Climbs and reclaims the 102.00 figure ahead of US Fed's meeting – by christianborjon DollarIndex Macroeconomics Bonds
US Dollar appreciates the courtesy of risk-off impulse
Wall Street finished with hefty losses, led by the Nasdaq 100, tumbling almost 2%. The S&P 500 and the Dow Jones slashed 1.30% and 0.77% of their value as traders prepared for the US Federal Reserve Open Market Committee decision on Wednesday. Hence, a busy USwas one of the main reasons for the US Dollar to appreciate against most G8 currencies.
Data from the previous week, dominated by the Q4 Advanced GDP release, indicated a robust economy with a growth rate of 2.9%, exceeding predictions of 2.6% QoQ. Nevertheless, the pace was slower than the previous quarter’s 3.2%, as confirmed by the US Department of Commerce. Also, the release of the US Core Personal Consumption Expenditures , the Federal Reserve’s preferred measure of inflation, came within expectations and below November’s 4.
Reflection of the aforementioned is US Treasury bond yields, precisely the US 10-year benchmark note rate, finished Monday with gains of three and a half basis points . Up at 3.542%, underpinned the greenback.stand at 97.6%, above last Friday’s 99% chances, though it’s priced in by the markets.
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