The DXY's rise is driven by favorable data, rising yields, and the market's cooling dovish Fed bets.
Last week, Powell downplayed the need for aggressive easing, emphasizing the economy's strength. He suggested slowing the pace of rate cuts to increase chances of achieving the right balance
Other Fed officials align with Powell's cautious approach, highlighting the need to consider both inflation and employment.
Market odds of a December rate cut have fallen toward 58%, according to the CME FedWatch Tool, indicating a shift in expectations.
For the rest of the week, markets will look upon weekly Initial Jobless Claims data, as well as S&P PMIs figures on Friday.
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