Tests and ultimate rejections of big figure and psychological levels in several Dollar/major pairs have also contributed to the revival, as the DXY reclaims 92.500+ status ahead of ADP, factory orders and more Fed speak, with Williams and Mester scheduled to orate. Whilst it may well be too premature to suggest that the rot has stopped, but the Buck is bouncing further from Tuesday’s 2020 low (91.737) and seemingly gleaning more traction from the US manufacturing ISM, with considerable assistance via independent weakness in rival currencies.
The greenback steadied overnight following the prior day’s fluctuations in which the DXY briefly slipped below the 92.00 level amid a flattening of the yield curve before rebounding on the back of stronger than expected ISM data.
The greenback steadied overnight following the prior day’s fluctuations in which the DXY briefly slipped below the 92.00 level amid a flattening of the yield curve before rebounding on the back of stronger than expected ISM data.