DXY’s upside momentum gathers extra pace and trades at shouting distance from the area of 2023 peaks around 106.70 at the beginning of the week. In th
’s upside momentum gathers extra pace and trades at shouting distance from the area of 2023 peaks around 106.70 at the beginning of the week.
In the meantime, extra gains appear likely in the dollar for the time being. Once the index clears the YTD high of 106.83 , it could encourage bulls to challenge the weekly top at 107.19 prior to another weekly peak at 107.99 .Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD came under renewed bearish pressure and declined below 1.0550 during the European trading hours on Monday. The pair is weighed by a buoyant US Dollar amid higher US Treasury bond yields and a cautious mood. US ISM PMI and Powell's speech eyed.GBP/USD turned south and retreated to the 1.2150 area after spending the Asian session in a tight range near 1.2200.
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