US Dollar Index stays on the defensive around 98.60 By pabspiovano DollarIndex Currencies Majors
US yields reverse the initial drop and resume the uptrend.Sellers keep dictating the price action in the greenback, with theUS Dollar Index appears capped by 99.00
The U-turn in US yields also appears to have pushed the buck from daily lows. Indeed, yields across the curve not only left behind the initial cautious stance but are also navigating in fresh highs at the time of writing., final prints of the U-Mich Index saw the Consumer Sentiment deflate to 59.4 for the current month, while Pending Home Sales contracted 5.4% in the year to February.
remains well supported by the current elevated inflation narrative, a potential more aggressive tightening stance from the Fed and the solid performance of the US economy.Eminent issues on the back boiler If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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