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Watching the dollar index amidst Fed uncertainty
The latest Fed commentary, while still hawkish, seems to be softening its stance on future rate hikes. I'm keeping a close eye on the $DXY to see if this translates into any significant weakening, which could be interesting for carry trades like $TRYUSD, currently hovering around 0.02134804. A sustained downtrend in the dollar might also offer some reprieve for risk assets, although the general macro headwinds are still formidable.
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I'm with you on watching DXY closely. While the Fed's tone might be softening, global factors like European energy concerns could still prop up the dollar, even with a less hawkish Fed. It'll be a balancing act.