The dollar was rising as a lack of news and data Tuesday should keep markets focused on the prospect of more cautious interest-rate cuts from the Federal Reserve, Swissquote Bank analyst Ipek Ozkardeskaya wrote in a note.
The Fed last week signalled that it could slow the pace of rate cuts. The market is now pricing in just 35 basis points of rate cuts until December 2025, according to LSEG.
Any falls in the dollar are “probably good opportunities” to buy the currency against most majors, Ozkardeskaya wrote. The DXY dollar index rises 0.1% to 108.153.
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