Will US Debt Ceiling Deal and Jobs Report Boost DXY Further?

US Dollar Weekly Forecast: BullishThe US Dollar is up 3 percent over the past 3 weeksWill debt ceiling deal, non-farm payrolls propel it more?DXY confirmed a breakout above a key moving average

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Fundamental Analysis

The US Dollar (DXY) rallied 1 percent this past week. In fact, for the past 3 weeks, the currency is up almost 3 percent. This is speaking to the best 15-day performance since the middle of September. Let us take a closer look at what has been driving this rally and whether or not there is enough fundamental momentum for this move to continue.

The 2-year Treasury yield is up almost 14 percent this month, driven by markets pricing out rate cuts from the Federal Reserve in the near and medium term. Rate cuts were aggressively priced after the collapse of Silicon Valley Bank triggered concerns about a…

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