The Federal Open Market Committee decided to leave interest rates on hold and announced that tapering will begin In November, with monthly purchases being reduced by USD 15 billion, as expected.

The U.S. dollar index, which tracks the performance of the greenback against a basket of six major currencies, kicked off the week on a quiet note, pulling back from the 2021-high recorded on Friday’s trading session.

The US dollar index, which measures the greenback's performance against a basket of six major currencies, recorded slight losses today 0.2 percent, after touching a 16-month top the previous day, the highest since June 2020.

Today, the release of the latest Retail Sales data, with sales increasing by a whopping 3% (MoM/Jan), having been expected to have jumped by around 1.8%.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, closed 0.14% lower followed by entering a consolidation phase this morning and attempting to stabilize ahead of key CPI data release today

US Consumer Confidence slipped to 102.90 (from 106.0), confirming the second successive monthly decline and missing an expected increase to around 108.5.

The U.S. dollar index, which measures the greenback's performance against a basket of six major currencies, closed 0.03% lower in the previous session before regaining its momentum this morning as the risk aversion takes over.

Market-implied probability favors a 25bps hike as we near a likely terminal rate (sufficiently restrictive), but you would be wise not to put your house on it.

The U.S. dollar index, a useful tool to assess the valuation of the greenback against a basket of six major currencies, started to ease momentum ahead of Powell’s testimony later today before congress.

Ultimately, the Fed delivered broadly in line with market expectations yesterday afternoon, raising US rates by 25bps to a target range of 4.75 – 5%.