US Dollar Index holds near 99.35/40 despite joint FX intervention
The US Dollar Index is finding support near 99.35/40 due to expectations of a Federal Reserve hike in September.
The dollar is not broadly weaker despite sizeable joint FX intervention in USD/JPY and lower oil prices.
Upcoming US jobs data and ISM manufacturing releases are key inputs for the Fed’s decision, with consensus around +75-80k for non-farm payrolls.