DXY index falls to its lowest level since January.
Markets continue to aggressively bet on a dovish Fed.
Powell’s words on Friday at the Jackson Hole Symposium will guide the markets.
The US Dollar (USD), as measured by the US Dollar Index (DXY), exhibits no signs of recovery and declined near 101.15 during Wednesday's trading session. This is due to intense dovish bets on the Federal Reserve (Fed) and with US Treasury yields continuing to struggle.
The US economic outlook continues to project growth above trend, providing ample indication that the market may be overly optimistic about quick and aggressive rate cuts.
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