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UniCredit: Investors do not want to do anything with the dollar until the Fed’s decision

The dollar remains strong due to high yields, but a lot will depend on the Fed.

   Dollar Index chart at 60 minute intervals 

The dollar rallied earlier in the week and the DXY dollar index rose 0.2% to 91.8480 as the market awaits a meeting of the US Federal Reserve on Wednesday. US Treasury yields remain strong. However, analysts at UniCredit note that for now, investors seem reluctant to push the dollar too hard in any direction.

The DXY remains comfortably below last week’s peak of 92.5030, although the euro / dollar, which last fell 0.2% to 1.1926, appears to have stabilized below 1.1950 as “investors are reluctant to bring back the common currency to 1.20 and above. , – said in a message from UniCredit.

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