The greenback, in terms of the USD Index (DXY), comes under some modest downside pressure following Friday’s weekly highs near the 106.80 level on Mon
The index faces some selling pressure near 106.50. US Monthly Budget Statement, Empire State index next on tap. Fed’s P. Harker is due to speak later in the NA session. day. USD Index looks at risk trends, Fedspeak The index gives away part of the recent two-day recovery to the vicinity of 106.80 on the back of a so far decent rebound in the risk-linked galaxy at the beginning of the week.
What to look for around USD The price action around the index remains depressed and in the area of monthly lows around 105.70 ahead of the release of key data in the US calendar on Wednesday. In the meantime, support for the dollar keeps coming from the good health of the US economy, which at the same time appears underpinned by the renewed tighter-for-longer stance narrative from the Federal Reserve.
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