When I write the Online Trading Academy Forex newsletter, I give my opinion about what I believe is happening to the currencies of the world based on the news I hear, the experts I follow, and my personal experiences of the economic cycles I have seen in the past. This fundamental information helps me understand what reports and indicators the economists of the world believe will shape future events.
US Dollar pulls back from weekly high, Fed rate hike bets should limit deeper losses
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, edges lower during the Asian session on Friday and erodes a part of the previous day's US CPI-inspired strong gains to the weekly high. The downside, however, seems cushioned in the wake of reviving bets for further policy tightening by the Federal Reserve (Fed).