DOLLAR INDEX
U.S. Dollar Index is trading above the support level at $98.45, and prices are likely to break below it to target the $97.85 level. This scenario becomes invalid if the minor resistance level at $99.30 is broken to the upside during today’s session.
|
Support |
98.45 | 97.85 |
| Resistance | 99.30 |
100 |
The U.S. dollar index declined in today’s trading, pressured by a clear shift in market expectations regarding the future path of monetary policy. The downturn followed a more dovish interpretation of the Federal Reserve’s outlook, prompting traders to scale back bets on continued policy tightening through the first quarter of 2026.
Falling U.S. Treasury yields also added to the selling pressure, accompanied by a noticeable improvement in global risk appetite. Overall, the index continues to move within a downward range unless upcoming economic data provides renewed support for dollar demand in the short term.
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