USD extends post-Fed slide as DXY nears 98.00 – ING
Par FXStreet Insights Team
Date de publication: 12 Dec 2025 | Date de modification: 12 Dec 2025
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The US Dollar (USD) weakened further after the Fed meeting, with Dollar Index (DXY) closing near 98.00 as rate expectations shifted lower and seasonal pressure added to the bearish tone, ING's FX analyst Frantisek Taborsky notes.
The US Dollar (USD) weakened further after the Fed meeting, with Dollar Index (DXY) closing near 98.00 as rate expectations shifted lower and seasonal pressure added to the bearish tone, ING's FX analyst Frantisek Taborsky notes.
Lower Fed rate expectations and seasonality weigh on USD
"Following Wednesday’s Fed meeting, the US dollar extended its decline yesterday, with the DXY closing near 98.00, close to our expectations."
"The bearish wind is coming not only from interest rates but also from end-of-year seasonality, in our view. Dollar rates saw another calibration of Fed expectations lower, with the 2y falling to 3.50% and the market pricing in 3.05% as the Fed terminal rate at the end of next year, keeping pressure on the US dollar."
"Today's US calendar does not have much to offer, and the market should stabilise somewhat after the risk event. Some risk-off sentiment coming from equities should, on the other hand, provide some floor for the dollar. Overall, DXY around 98.350 with a small downside to 98.200 seems fair for now, in our view."
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