⚖️💵Dollar Rate Spreads Spike On Fed Day: Cable FX Macro
- Rosbel Durán
- Sep 20, 2023
- 1 min read
Updated: Sep 25, 2023
Both our gauges for the USD spot FX and rate spreads were trading heavy into the FOMC
The relationship between rate spreads and the dollar has strengthened in prior months, a short-term correlation coefficient now stands at 57% vs 19% three months ago
The <.RDDXYIR> Cable FX Macro Dollar Rate Spreads Index recorded its best day since mid-July, it is now at the highest level in a month
Our gauge of the dollar holds to September gains, the index level is shy of YTD highs
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