The US Dollar Index (DXY), which had risen for three days, started to decline early on Tuesday morning, reaching 111.50. The index of the US dollar versus the six major currencies, which also tracks down US Treasury rates, reflects the market's concern ahead of the crucial central bank pronouncements and the US jobs numbers.
The US dollar seems to have been under pressure due to the dismal US figures and forecasts for additional drops in oil prices and inflation.
US President Joe Biden on Monday asked oil and gas businesses to use their record profits to lower costs for Americans and increase production, or face a higher tax rate, as he battles high pump prices with elections taking place in a week.
We expect the pair to head lower
The US dollar seems to have been under pressure due to the dismal US figures and forecasts for additional drops in oil prices and inflation.
US President Joe Biden on Monday asked oil and gas businesses to use their record profits to lower costs for Americans and increase production, or face a higher tax rate, as he battles high pump prices with elections taking place in a week.
We expect the pair to head lower