Forex Today: US Dollar extends rally on hawkish Fed repricing
The post Forex Today: US Dollar extends rally on hawkish Fed repricing appeared on BitcoinEthereumNews.com. Here is what you need to know on Friday, May 15: The US Dollar (USD) Index extends its rally and remains on track to post its largest weekly gain in two months as markets reassess the Federal Reserve’s (Fed) policy outlook. In the second half of the day, the US economic calendar will feature Industrial Production data for April and NY Fed’s Empire State Manufacturing Index for May. Following the stronger-than-forecast consumer and producer inflation data earlier in the week, US Treasury bond yields rose sharply and boosted the USD. As of writing, the benchmark 10-year US T-bond yield was sitting at its highest level in nearly a year above 4.5%, while the USD Index was up 1.3% for the week at 99.10. According to the CME FedWatch Tool, markets are currently pricing in about a 50% probability of the Fed raising the policy rate at least once by end-2026. In the meantime, US stock ind