Market participants are focusing on the upcoming September US CPI report while the dollar is gaining strength, nearing mid-August highs with a hawkish Fed outlook.
Despite higher dollar values, market convictions remain low due to Middle East tensions and uncertainty around upcoming CPI data, leading to mixed sentiments in trading.
The FOMC minutes revealed a divided Committee, indicating that while the market expects cuts, some officials are cautious about more aggressive easing strategies.
The market is experiencing a hawkish repricing after strong jobs data, but risks to future USD valuation seem tilted towards dovish outcomes as inflation updates loom.
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