Forex
DXY Weakens as Fed's Waller Signals Rate Pause
The US Dollar Index (DXY) is weakening for the third consecutive day, trading around 99.00 during Asian hours on Friday.
This comes after Federal Reserve Governor Christopher Waller signaled a preference for keeping interest rates unchanged at the upcoming September meeting, provided there are no major surprises in upcoming inflation data.
In response to Waller's comments, market expectations shifted significantly, with the CME FedWatch tool indicating that the probability of a September rate hike dropped to 50.2%, down sharply from 63.2% the previous day.