- The index extends the bearish move below the 102.00 mark.
- Markets continue to adjust to the Fed’s dovish hike.
- Weekly Claims, New Home Sales, takes centre stage later on Thursday.
The greenback, in terms of the USD Index (DXY), remains well on the defensive and breaks below the 102.00 yardstick for the first time since early February.
USD Index weaker post-FOMC
The last time the index retreated for six consecutive sessions was in mid-October 2021.
The dovish hike by the Federal Reserve on Wednesday in combination with the equally disheartening message from Chief Powell at his press conference lent further legs to the downtrend in the buck and dragged the index to new multi-week lows.
The lack of traction in US yields across the curve, in the meantime, accompanies the marked move lower in the index for the time being.
In the US data space, usually weekly Initial Claims, New Home Sales and the Chicago Fed National Activity Index will be in the limelight later in the NA session.
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