Forex Today: US Dollar Index drops below 100 after central banks hold rates

The US Dollar Index (DXY) fell below the 100 mark and is now trading near the 99.40 price zone after investors assessed the Fed’s interest rate decision. Chair Jerome Powell claimed on Wednesday that higher energy prices will likely lead to inflation. The US Dollar Index (DXY) fell below the 100 mark and is now trading near the… The US Dollar Index (DXY) fell below the 100 mark and is now trading near the 99.40 price zone after investors assessed the Fed’s interest rate decision. Chair Jerome Powell claimed on Wednesday that higher energy prices will likely lead to inflation. Here is what you need to know for Friday, March 20:The US Dollar Index (DXY) fell below the 100 mark and is now trading near the 99.40 price zone after investors assessed the Fed’s interest rate decision. Chair Jerome Powell claimed on Wednesday that higher energy prices will likely lead to inflation. Rising inflation will then forestall rates cuts, Powell said, showing a more hawkish stance than expected. US Dollar… For traders, releases like this can quickly shift rate expectations, currency direction, index futures and broad risk sentiment. Watch the next move in the dollar, front-end yields and index futures to see whether the market prices this release as a true surprise or only a passing headline.