Dollar: Weak momentum ahead of FOMC meeting – BNY
Par FXStreet Insights Team
Date de publication: 28 Jan 2026 | Date de modification: 28 Jan 2026
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The Dollar is entering the FOMC decision on a weak note, with no signs of panic selling despite recent commentary from President Trump. There has been a marginal net-buying trend over the past three months, although signs of deterioration have emerged.
The Dollar is entering the FOMC decision on a weak note, with no signs of panic selling despite recent commentary from President Trump. There has been a marginal net-buying trend over the past three months, although signs of deterioration have emerged. Bob Savage, BNY's Head of Markets Macro Strategy, notes that the Dollar is in a better position than before the last FOMC decision, but overall hedges remain elevated.
Dollar shows signs of weakness
"The dollar is heading into the FOMC decision on a soft note but, notwithstanding President Trump’s dollar commentary yesterday, there are no signs of panic selling yet."
"On a holdings basis, the dollar is in a much better position than it was in the run-up to the December FOMC decision, though overall hedges are still above the rolling 12-month average."
"However, the flow magnitudes are also not enough to suggest that cross-border investors have a major 'sell U.S.' trade in place; at most there is a prevailing 'hedge the dollar' view, but without much conviction."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
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