US Dollar Index drops to 3-week lows as bears regain confidence By pabspiovano DollarIndex Currencies Majors
US yields extend the corrective downside on Monday.The greenback extends the bearish move and drops to new 3-week lows in the 102.60/55 band when tracked by theThe index resumes the recent downtrend and quickly leaves behind Friday’s bullish attempt amidst muted activity in US yields and a prevailing risk-on sentiment at the beginning of the week.
There are no changes to the macro backdrop around the US dollar, where speculation of the next moves by the Fed coupled with inflation fears and incipient concerns over a “hard landing” in the US economy continue to dictate the price action in the buck. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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