MARKET OUTLOOK - News and Data Shortages Drive Dollar Up Today

According to Swissquote Bank analyst Ipek Özkardeskaya, the dollar has risen today due to a lack of news and data, which has led markets to focus on a more cautious expectation of interest rate cuts from the Fed. Last week, the Fed signaled that it may slow the pace of interest rate cuts. According to LSEG, the market is currently pricing in only a 35 basis point rate cut by December 2025. Özkardeskaya emphasized that any decline in the dollar would likely present "good opportunities" to buy the currency against most major counterparts. The DXY dollar index rose by 0.1% to 108.153.