The US dollar index’s (DXY index) fall below key support suggests the market seems to be at odds with the US Federal Reserve’s hawkish hold.

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Gold looks set to end a pivotal week with more questions than answers as market participants appear to be ignoring the Fed. Is a retest of $2000/oz on the cards?

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Market skepticism over the Fed’s plans to resume tightening and expectations that the ECB will have to do more in the coming months to tame inflation could push EUR/USD higher in the near term.

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The Japanese yen weakened against the U.S. dollar after the Bank of Japan retained an ultra-dovish stance, with USD/JPY hitting fresh multi-month highs above 141.50.

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EUR/USD has perhaps unsurprisingly found it hard to make further gains after what’s already been a bullish week

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