Analysis

“Today, we think the risks are skewed towards a positive reaction by the dollar, as slightly below-consensus numbers (but still higher than last month) should not be enough to cause any dovish re-pricing in rate expectations – which are already less hawkish than the Fed’s median Dot Plot [interest rate projections] – while a close-to or above 6% read could prompt markets to bring forward the pricing for the start of the Fed’s” ING said, adding that the dollar index, or DXY, may rise back towards Friday’s 94.60 by the end of this week.

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