Dollar index Keeps Floating Above 102 Mark Amid Sustained Risk Aversion

Published on Aug 10, 2023 12:34

The US dollar index is consolidating just above 102 mark this week as markets remain fixated over the inflation data due out today in the US session. The risk aversion remains in play ahead of the critical inflation reading and is capping every modest downtick in the dollar index. The US stocks fell yesterday. A late selling spree pulled the major averages firmly in the red by the end of the session. The Dow slipped around half a percent on the day. The comments from the Fed officials this week were mixed as regards the monetary policy outlook but jaded European economic releases and a tepid trade data as well as inflationary readings from China this week have tilted the sentiment in favor of the US dollar index. The index currently quotes at 102.20, almost unchanged on the day. It had hit a one month high around 102.70 mark on Tuesday.