US Dollar Index rebounds from weekly low
US Dollar Index (DXY) takes the bids to refresh its intraday high around 104.00 while posting the first daily gain in three during Friday’s Asian session. The greenback’s latest run-up could be linked to the market’s indecision amid a light calendar, as well as the cautious mood ahead of Fed’s bi-annual Monetary Policy Report and Fed Chairman Jerome Powell’s speech.
The greenback gauge posted the biggest daily loss in a month the previous day as downbeat US Treasury yields joined softer US data. US 10-year Treasury yields dropped during the last two consecutive days, to 3.243% at the latest as the Fed’s 0.75 rate increase couldn’t impress bulls.
The greenback gauge posted the biggest daily loss in a month the previous day as downbeat US Treasury yields joined softer US data. US 10-year Treasury yields dropped during the last two consecutive days, to 3.243% at the latest as the Fed’s 0.75 rate increase couldn’t impress bulls.