The dollar index fell 0.1% as markets weighed potential timing of 2024 Fed, ECB and BoE rate cuts and whether the BoJ on Tuesday will offer more clarity regarding when they might hike.
That came after last week's dovish Fed and hawkish ECB and BoE meetings and Fed speakers' pushback against big 2024 rate cut pricing.
EUR/USD rose 0.3% in line with the Bunds-Treasury yields spreads rebound fostered by more ECB policymakers arguing against early 2024 rate cuts with disinflation metrics not yet met. But German Ifo business sentiment worsened, creating risk of a second quarterly GDP drop and thus recession reading.
That came after last week's dovish Fed and hawkish ECB and BoE meetings and Fed speakers' pushback against big 2024 rate cut pricing.
EUR/USD rose 0.3% in line with the Bunds-Treasury yields spreads rebound fostered by more ECB policymakers arguing against early 2024 rate cuts with disinflation metrics not yet met. But German Ifo business sentiment worsened, creating risk of a second quarterly GDP drop and thus recession reading.
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