USD Index retreats from recent highs and challenges 102.00 – by pabspiovano DollarIndex Currencies Majors
The risk-on trade seems to prevail early in the European session.The greenback trades slightly on the defensive and returns to the 102.00 neighbourhood when tracked by theThe index reverses two daily advances in a row and retreats from Monday’s peaks around the 102.20 region against the backdrop of the better mood in the risk complex on Tuesday.published earlier in the Asian trading hours appear to have reignited the appetite for the risk complex and puts the buck under some downside pressure.
Data wise in the US, Housing Starts and Building Permits are due seconded by the speech by FOMC M. Bowman .The upside momentum in the greenback met an initial resistance around 102.20 so far this week. In favour of a pivot in the Fed’s normalization process, however, still emerges the persevering disinflation, nascent weakness in some keyKey events in the US this week
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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