The index seems to have met some resistance near 105.90.
Bets for a 50 bps rate hike by the Fed continue to rise.
Weekly Claims, FOMC’s Barr next of note on Thursday.
The greenback, in terms of the USD Index (DXY), starts the European trading hours slightly on the defensive and around the 105.50 region on Thursday.
USD Index looks at yields, data
The index navigates a narrow range amidst a broad consolidative stance, which is in turn propped up by increasing cautiousness ahead of the release of the US jobs report on Friday.
In the meantime, investors continue to digest Powell’s testimonies (Tuesday and Wednesday) against the backdrop renewed bets of a 50 bps interest rate hike by the Federal Reserve at the March 22 event.
According to FedWatch Tool measured by CME Group, the probability of a half point raise in March hovers around 77%, from just over 9% a month ago.
In the docket, Initial Jobless Claims will be the sole release seconded by the speech of FOMC M.Barr (permanent voter, centrist).
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