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The US Dollar slightly recovers on Wednesday, looking for direction against most major peers.  Traders are mulling rate cut bets by the Fed with Tump’s tariffs set to kick in at the start of March. The US Dollar Index (DXY) holds near yearly lows and looks sluggish.  The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, edges slightly higher and trades around 106.50 at the time of writing on Wednesday after not breaking any pots or making any positive impressions in February. The DXY Index holds near yearly lows as traders shun the Greenback in a flight to safe havens from United States (US) President Donald Trump’s tariffs, which are set to kick in on March 4 for Mexico, Canada, and China.  Meanwhile, traders are seeing a second element of a weaker greenback. For the first time this year, Federal Reserve (Fed) rate cut bets are pricing in two rate cuts for 2025. The move comes as the interest rate gap between US yields and other countries narrowed, triggering a weaker US Dollar overall. It comes just days before the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) data, which will be released on Friday.  Daily digest market movers: Trump ahead At 14:00 GMT, US President Donald Trump will be speaking with the media. At 15:00 GMT, New Home Sales are expected to slow down to 0.68 million units for January compared to the 0.698 million units a month earlier.  At 17:00 GMT, President of the Federal Reserve Bank of Atlanta Raphael Bostic participates in a moderated discussion at the Urban Land Institute in Atlanta. At 18:00 GMT, Federal Reserve Bank of Richmond President Thomas Barkin delivers a speech, “Inflation Then and Now”, at the Northern Virginia Chamber of Commerce,…

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Filed under: News - @ February 26, 2025 12:27 pm