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Jan 13 - 10:55 AM

USD: Fed Likely To Hike 25bps In Feb; USD Index Primed For A Bounce S/T - ANZ

By eFXdata  —  Jan 13 - 09:30 AM

ANZ Research sees a scope for the USD to regain some grounds in the near-term.

"Although CPI and wage growth eased in December, recent rhetoric from FOMC speakers has shown the Fed still holds a strong conviction about the need for tighter policy until core inflation reflects sustainable declines. Fed members Bostic, Daly and Bullard all reiterated their support for interest rates reaching above 5% before a pause in hiking is considered. We expect a25bp hike at the February FOMC meeting," ANZ notes. 

"We expect some DXY consolidation as the large drop of 10.3%since September2022 may be an undershoot, and the index may be primed for a bounce in the short term," ANZ adds. 

Source:
ANZ Research/Market Commentary

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