US Dollar Index pushes higher to the 91.60 zone ahead of data

DXY extends the sharp rebound further north of 91.00.
The dollar regains traction following the FOMC event.
Initial Claims, Philly Fed Index, Yellen next on tap.
The dollar keeps pushing higher and extends the recent breakout of the 91.00 yardstick when tracked by the US Dollar Index (DXY).

US Dollar Index bid post-Fed
The index is up for the third session during a row on Thursday and advances past the key 200-day SMA (91.51), all following Wednesday’s FOMC event.

In fact, the Fed brough forward any chances of starting the tapering talk at its meeting on Wednesday, while the “dots plot” now projects two rate of interest hikes by end of 2023. Regarding inflation, the Fed sticks to the view that consumer prices will return to the target at some point in 2022.

In the wake of the Fed’s meeting, yields of the key US 10-year reference leapt to the vicinity of 1.60% from sub-1.50% levels, while the 5-year breakeven eased to 2.41%.


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