USD: Rebound supported by strong momentum – MUFG

FXStreetFeb 3, 2026 9:46 AM

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The US Dollar (USD) has rebounded at the start of the week, bolstered by President Trump's nomination of Kevin Warsh for Fed Chair and positive economic indicators. The USD has benefited from reduced policy uncertainty and stronger-than-expected ISM manufacturing data, notes Lee Hardman, Senior Currency Analyst at MUFG.

US Dollar gains from positive developments

"The US dollar has continued to rebound at the start of this week supported by President Trump’s decision to nominate former Fed Governor Kevin Warsh to the next Fed Chair."

"Stronger growth has already encouraged market participants to scale back expectations for Fed rate cuts this year."

"Further Fed rate cuts are an important assumption behind of forecasts for further US dollar weakness in 2026."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)

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