DOLLAR INDEX ATTEMPTS RECOVERY FROM 2-MONTH LOWS; HAWKISH FED COMMENTS SUPPORT

Published on Feb 18, 2025 11:36

The dollar index is attempting recovery from a two month low on Tuesday morning in Asia and edging closer to 107 mark. Rebound in US benchmark treasury yields above 4.5% is also supporting the greenback that was on a relentless slide last week. Meanwhile, Federal Reserve Governor Christopher Waller said recent economic data support keeping interest rates on hold, but if inflation behaves as it did in 2024, policymakers can get back to cutting �at some point this year.� Philadelphia Fed President Patrick Harker also advocated for holding rates steady amid a strong economy. Currently, the dollar index that measures the greenback against a basket of currencies is quoting at 106.94, up 0.33% on the day and awaiting the release of the latest FOMC minutes this week for further guidance on the rates outlook.