DXY steadies near 99.50 mark; End of US govt shutdown likely to pave way for pending economic reports

The dollar index is steadying near 99.50 mark on Thursday awaiting clarity on Federal interest rate stance as end of US shutdown clears the way for pending economic reports that could provide cues. A prolonged shutdown in US history ended on Thursday after Trump signed a funding bill to reopen the government, as per media reports. Meanwhile, Fed Governor Stephen Miran described US monetary policy as too tight, mainly because he believes cooling housing inflation is easing price pressures. Atlanta Fed President Raphael Bostic said on Wednesday that he favors leaving interest rates where they are until there is "clear evidence" that inflation is moving back to the Fed's 2% target. Few more Fed officials are due to speak later in the day that could offer clues about future monetary policy. The dollar index that measures the greenback against a basket of currencies is quoting at 99.45, up 0.07% on the day.

 

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