Forex
US Dollar Index Opens Lower Amid Fed Rate Hike Expectations
The US Dollar Index (DXY) opened slightly lower in Asian trading on Monday, following a strong performance last Friday.
Fed Chairman Kevin Warsh's comments at the Jackson Hole Symposium signaled that the Federal Reserve remains committed to bringing inflation down to its 2% target, boosting expectations of an interest rate hike in September.
The odds of a Fed rate hike have decreased to 39.4%, according to the CME FedWatch tool, following a significant drop from almost 60% seen a week ago.