DXY: Equities cap rebound prospects – ING
By FXStreet Insights Team
Updated: 22 Apr 2026
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ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that the US Dollar (USD) was largely unmoved by Kevin Warsh’s Senate hearing, as he defended Federal Reserve independence and avoided clear policy guidance.
ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note that the US Dollar (USD) was largely unmoved by Kevin Warsh’s Senate hearing, as he defended Federal Reserve independence and avoided clear policy guidance. They highlight resilient global equities as a key obstacle to a stronger Dollar and suggest US Dollar Index (DXY) may struggle to revisit 99.0 in the current risk environment.
Warsh hearing leaves Dollar directionless
"Warsh was firm enough on Fed independence to prevent any Treasuries‑USD sell‑off, while remaining sufficiently elusive on policy to avoid any impact on rate expectations."
"The dollar had a couple of fluctuations – mostly on the strong side – during Warsh’s testimony, but was left by and large untouched."
"A key missing link for a more durable dollar rebound remains the equity backdrop."
"In this environment of resilient risk sentiment, DXY may struggle to climb back toward 99.0."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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