Can The DXY Make New Highs?
The US dollar rallied and the DXY has just about recovered highs established before the markets got hopeful and started to price in a plateauing CPI. The DXY fell to the 107's, but promptly regained footing when inflation came out hotter than expected. The Fed is expected to raise rates by up to 100 bps yet again, which is fueling yields and the dollar's rally. We are right at one of our levels at 110.20, the final level before highs. If we can break this, then 111.37 is the next target.
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