The USD continued to see some volatility overall and remained in a relatively uncertain direction over the last few days.
However, it could still be able to maintain its uptrend and has remained near the previous peak it reached at the beginning of the month.
While the currency continues to find support in stronger-than-expected economic data and higher treasury yields, attention could turn to today’s release of job market and manufacturing data as well as to the comments from Jerome Powell and other Federal Reserve governors.
The Federal Reserve is still expected to keep its interest rates at elevated levels well into next year. However, some risks remain as the institution could adopt an even tighter stance.
As a result, today’s data and comments could fuel volatility.