Following Monday’s peaks near 102.80, the greenback gives away part of that advance and retreats to the 102.30 region when tracked by the USD Index (DXY) on Tuesday.
USD Index focuses on inflation figures
The multi-session recovery in the index loses some momentum on turnaround Tuesday on the back of some recovery in the risk complex and amidst rising cautiousness ahead of the release of US inflation figures for the month of March due on Wednesday.
In the meantime, US yields trade in a flattish fashion ahead of the opening bell in the old continent against the backdrop of still firmer conviction of a 25 bps rate hike by the Federal Reserve at the May 3 gathering.
Still around the Fed, NY Fed J.Williams said on Monday that inflation should return to the 2.0% target by 2025, while he sees consumer prices rising 3.75% this year. He also expects the economy to expand less than 1% in 2023 and the unemployment to rise to the 4.0%-4.5% area.
In the US data space, the only event will be the speech by Philly Fed P.Harker (voter, hawk) later in the NA session.
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