The US Dollar Index (DXY) is trading mildly higher at 105.90, buoyed by high US yields amidst hawkish bets on the Federal Reserve (Fed).
US Dollar rally is likely to continue, fueled by resilient US economy and higher US Treasury yields. Durable Goods Orders from March were solid. Hawkish bets on the Fed might also benefit the US Dollar. The US Dollar Index is trading mildly higher at 105.90, buoyed by high US yields amidst hawkish bets on the Federal Reserve . The US economy continues to display robust growth, which has forced markets to delay their expectations on rate cuts.
Despite this sluggish bullish momentum in the short term, the DXY is currently trading above its 20,100 and 200-day Simple Moving Averages . This not only points toward persistent buying pressure but also signals a more long-term bullish bias. US Dollar FAQs What is the US Dollar? The US Dollar is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes.
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