Dollar Consolidates Gains as Nordea Sees Two More Hikes Ahead

The US Dollar has consolidated its gains above 100.00 after rising more than 1% in the previous week, fueled by the Federal Reserve's hawkish outlook.

On Monday, the Chicago Fed National Activity Index data for August will be released, and investors will also pay close attention to comments from central bank officials throughout the day.

Nordea analysts highlight that the US economy remains resilient, while inflationary pressures show few signs of easing. They maintain their forecast for two more hikes, expecting another hike next year as inflationary pressures are likely to persist.