Daily digest market movers: DXY holds steady as markets await drivers
A hawkish turn from the Fed, coupled with additional US Treasury supply, could fuel additional upward movements in the US Treasury bond yields. This scenario can drive further Greenback gains following market adjustments to the Fed's actions.
According to market expectations, investors assign a 15% probability of a rate cut in the coming June meeting. This chance increases to 45% for a July rate cut, and even a September rate cut is only priced at 85% odds.
Upon examining the bond market, US Treasury bond yields are registering a slight decline. Specifically, the 2-year yield is seen at 4.97%, the 5-year yield at 4.64%, and the 10-year yield is slightly lower at 4.61%.
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