AUDUSD: Asian foreign exchange dropped, USD recovered waiting fo

Most Asian currencies fell on Tuesday, while the dollar rose as traders largely remained risk-averse ahead of further signals on when the Federal Reserve may begin cutting interest rates.

The dollar index and dollar index futures rose 0.5% and 0.3%, respectively, during the Asian session on Tuesday. The dollar index is also trading at a small premium to futures, suggesting short-term demand for the greenback is growing.

Traders are now awaiting further signals on the Fed and the US economy, with Fed Governor Christopher Waller due to speak later on Tuesday.

On Wednesday, US retail sales and industrial production figures are expected to provide more clues on the world's largest economy, with any signs of cooling allowing for more bets on growth. cut interest rates soon.

However, the market appears to have moderated bets that the Fed will begin cutting interest rates as soon as March 2024, according to Fed policy tracker CME