Dollar to Rupee Future Forecast

Hello Readers, Today let's discuss Dollar Index (DXY) and its expected trend for the upcoming days. The Dollar Index (DXY) has found support at 101-101.3 multiple times, since May 2022. Its direction is uncertain due to the upcoming FED interest rate announcement on May 4th at 00:30 A.M(IST) which could send the DXY soaring or tumbling. Incase, the FED hikes interest rates by 25 (bps)basis points or more then the dollar index will likely be uptrend and reach 103.50-104.70 levels in the upcoming days. If the FED leave things as it is then the DXY will go for a toss  in upcoming days down to 99.5 level. We can see a clear trend in DXY only after the FED announcement, which will also impact all the currencies worldwide.  The outcome of the FOMC meet has become the hottest topic around the globe, so don't miss out.