US Dollar Index: DXY stays defensive above 104.00 amid Fed concerns, focus on US Factory Orders

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US Dollar Index: DXY stays defensive above 104.00 amid Fed concerns, focus on US Factory Orders
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The US Dollar Index (DXY) remains sidelined around 104.10-15 as bulls and bears jostle amid a light calendar in Tuesday’s Asian session. Also challeng

US Dollar Index remains dicey after a downbeat start to the week that snapped two-day winning streak.

That said, the market’s bets on the Federal Reserve’s status quo in September contrasts with a recent improvement in the odds favoring a rate hike during late 2023 seems to prod the US Dollar moves. That said, Federal Reserve Bank of Cleveland President Loretta J. Mester defended the US central bank’s hawkish move and ruled out the rate cut bias in her speech on Friday.

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