USD Index extends the weekly rebound and targets 106.00 – by pabspiovano DollarIndex Currencies Majors
The absence of traction prevails in the US yield curve., which gauges the greenback vs. a bundle of its main rival currencies, climbs further and approaches the 106.00 neighbourhood on Wednesday.The index posts gains for the third session in a row and disputes the key 200-day SMA in the upper-105.00s on the back of the knee-jerk in the risk complex and firm speculation on further tightening by the Federal Reserve.
might not pause its tightening cycle in the short-term horizon, all morphing into renewed oxygen for the buck.space, the usual MBA Mortgage Applications are due in the first turn seconded by the Consumer Credit Change.The dollar remains firm amidst renewed speculation around the Fed and its normalization process, while the 106.00 mark now emerges as the immediate target of the current bounce.
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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