DOLLAR INDEX
U.S. Dollar Index is trading below the 98.50 resistance zone, and prices are likely to fall toward the 96.25 support area. This outlook would be negated if today’s trading breaks above the aforementioned resistance zone.
|
Support |
97.25 | 96.25 | – |
| Resistance | 98.50 | 100 |
101.50 |
The U.S. Dollar Index recorded a notable rise in today’s trading, supported by renewed buying after a recent wave of declines. This rebound reflects improved investor appetite for the greenback amid anticipation of upcoming U.S. inflation data, which is expected to shape the Federal Reserve’s monetary policy outlook in the coming period. On the fundamental side, the renewed debate over the pace of interest rate cuts and their implications for yields remains the key driver of the dollar’s movement against the major currency basket.
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