The US Dollar still found no love as traders continued piling into Wall Street despite not-so-dovish commentary from Federal Reserve officials. Will PCE data revive the DXY Index?
Despite upbeat US consumer confidence data, the US Dollar did not receive any love on Tuesday as the 2-year Treasury yield gained. Is further pain ahead for the currency during Asia trade?
The Dow Jones and S&P 500 gained as bank sector volatility cooled, causing traders to firm Fed rate hike bets for Wednesday. The Nasdaq/Dow ratio plunged the most since SVB’s collapse.
The US Dollar climbed as First Republic Bank was poised to receive aid and market volatility cooled. Meanwhile, the Fed’s balance sheet ballooned, but not because of quantitative easing.
The Japanese Yen underperformed as US banking sector volatility cooled. Traders started pricing out aggressive Fed rate cut bets for later this year and Treasury yields rallied.