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US Dollar Outlook Hinges on Federal Reserve Forward Guidance 2021-03-13 12:00:00 David Song, Strategist
US Dollar Talking Points
The US Dollar Index (DXY) bounces back from a three-day losing streak ahead of the Federal Reserve interest rate decision on March 17, and fresh forecasts coming out of the central bank are likely to influence theGreenback as Fed officials are slated to update the Summary of Economic Projections (SEP).
Fundamental Forecast for US Dollar: Neutral
The US Dollar Index (DXY) attempts to retrace the decline from the monthly high (92.50) amid the recent rebound in longer-dated US Treasury yields, and it remains to be seen if the Federal Open Market Committee (FOMC) will adjust the forward guidance for monetary policy as Congress passes the $1.9 trillion coronavirus recovery package.