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Dollar Index: Daily Analysis & Forecast

The dollar falls after the U.S. Federal Reserve appeared to rule out the possibility of raising interest rates, instead reiterating that it would take longer to gain confidence that inflation has fallen sufficiently to be able to cut rates. This leaves focus firmly on Friday’s U.S. monthly jobs data, says ING head of global markets Chris Turner. “There is a school of thought building that if the unemployment rate finally responds to slowing labour demand and pushes up to say 4.2% (current 3.8%) by September, the Fed can cut rates,” he says. The DXY dollar index falls 0.1% to 105.652, well below Wednesday’s peak of 106.490

 

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