The corrective bounce in the U.S. dollar faded again overnight, leaving the currency a shade lower early on Thursday in another hint the recent one-way bullish bet is on ice for now.
Disappointing U.S. economic data on Wednesday, on the heels of last week’s dovish steer from the Federal Reserve, knocked the dollar index lower.
It dipped to 96.875, from a high of 97.381. The index was back near a three-week trough of 96.387 set on Tuesday. Earlier this month, it scaled a 12-year peak of 100.390.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015