Fed Speeches and Trade Tariffs Drive US Dollar Strength – Key Levels to Watch for GBP/USD and EUR/USD in Latest DXY Forecast
Key Points:US Dollar Index (DXY) consolidates near 98.75 as markets await speeches from top Fed officials to gauge policy direction.Trump’s tariff threats and Fed chair appointment speculation inject political risk, boosting demand for the US dollar.Weak ISM Services PMI at 50.1 and soft jobs data increase the odds of a 25bps Fed rate cut in September.Market OverviewDuring Asian trading hours on Wednesday, the US Dollar Index (DXY) edged higher, holding near 98.70 as investors awaited remarks fr