US Dollar Index (DXY) takes the bids to refresh its intraday high around 104.00 while posting the first daily gain in three during Friday’s Asian session. The greenback’s latest run-up could be linked to the market’s indecision amid a light calendar, as well as the cautious mood ahead of Fed’s bi-annual Monetary Policy Report and Fed Chairman Jerome Powell’s speech.
The greenback gauge posted the biggest daily loss in a month the previous day as downbeat US Treasury yields joined softer US data. US 10-year Treasury yields dropped during the last two consecutive days, to 3.243% at the latest as the Fed’s 0.75 rate increase couldn’t impress bulls.
The greenback gauge posted the biggest daily loss in a month the previous day as downbeat US Treasury yields joined softer US data. US 10-year Treasury yields dropped during the last two consecutive days, to 3.243% at the latest as the Fed’s 0.75 rate increase couldn’t impress bulls.