USD consolidates as yields remain supportive. Economists at Scotiabank analyze Greenback’s outlook. DXY gains remain stretched High US yields and wide
rate differentials will keep the USD well-supported in the near-term at least but the disruptive impact of the US Treasury sell-off is a niggling concern for investors and may be increasing the risk of a hard landing in
the US. Technical signals suggest the rally in the DXY is very stretched and prone to some consolidation or a modest correction at least. A significantly lower USD may have to await some unwind in elevated US yields, however.
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