- Fed event risk seen as a mildly positive one for the Dollar– ING
Market news
26 July 2023
Fed event risk seen as a mildly positive one for the Dollar– ING
Fed day has arrived. Economists at ING expect Dollar to hold gains.
Dollar to stay supported into the Fed
A 25 bps hike is widely expected and it looks far too early for the central bank to soften up its FOMC statement by embracing recent disinflationary trends. This should see the Dollar holding onto some of its modest gains made over the last week.
DXY to trade 101.00-101.50 into the Fed, with risks of a breakout to 102.00 today.
See – Fed Preview: Banks see a 25 bps hike as “a done deal”, focus on forward guidance
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