US dollar eases after Fed clarification

The recent rally of the US dollar may have come to a halt following the Federal Reserve's meeting on Wednesday, where they indicated their intention to implement rate cuts later this year. However, they did not specify when these rate cuts would begin. As a result, investors are now eagerly awaiting the Jobs report on Friday, which could significantly impact prices if the results are below expectations.
After having a disappointing end in 2023, the US dollar index( DXY ) started the new year with a rally as rate-cut sentiments faded with its price rising over 1%. The Dollar index still appears to be within bearish territory after the price broke out of the 102.50 price level, which is currently inviting a bearish party on a second retest.