10-year U.S. Treasury Will Define The Next Direction Of The Dollar
Gregor Horvat | Aug 19, 2022 04:18AM ET
The US Dollar came higher this week as FOMC members remain hawkish for now, but they will be carefully tracking the upcoming data, so this sentiment can quickly change in the weeks ahead when we will get some more economic data.
DXY is currently trading at a very important bull/bear zone where we will most likely get a decision regarding the next direction. What we should look for are the 10-year US notes, which were turned down recently, and if the market remains bearish today, for the weekly close, then I am afraid that we will see more USD strength with higher yields next week.
But for now, it's important to not get married too much with one idea, so I am tracking two counts for the buck until things become clearer.
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