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Dollar Index: Intraday Analysis update

The dollar’s sharp selloff at the end of last week looks unlikely to be sustained, especially as U.S. rate-cut expectations priced in by the market “appear relatively more aggressive” than those for the eurozone, says MUFG currency analyst Lee Hardman. “The U.S. economy would have to start slowing more notably in the coming quarters and/or inflation continue to fall more quickly than expected for the U.S. rate market to price in even deeper rate cuts,” he says. This should help prevent a sharper selloff for the U.S. dollar in the near term, he says. The DXY dollar index trades flat at 105.556, having recovered from a six-week low of 104.8480 hit on Monday.

Intraday Analysis | 1H Time Frame |

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