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Dollar Index slips, stays near two-month high ahead of US data

The US Dollar Index was last near 101.28, down 0.11% on the day, and CME FedWatch put the October rate hike odds at 44.8%.

Reported · Written up by our desk · Major Pairs

The US Dollar slipped slightly against key currency peers on Wednesday, with the US Dollar Index, or DXY, down 0.11% to near 101.28, while remaining close to its two-month high of 101.64, according to FXStreet.

FXStreet said the next direction for the dollar will likely hinge on a week of US economic data expected to influence Federal Reserve rate expectations.

The outlet cited CME FedWatch showing October hike odds falling to 44.8% from 70.9% earlier in the week, adding that Fed commentary continued to keep the possibility of further tightening on the table.

Latest closeDollar index 101.25 ▲0.3%

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