DOLLAR INDEX SLUMPS UNDER 101 MARK

Published on Dec 28, 2023 11:35

The US dollar index fell sharply yesterday, adding to recent string of losses as dropping US treasury yields weighed on the currency. Markets are pricing a reduction in the US interest rates over coming months and the benchmark 10 year US treasury yields are currently at 3.80% - testing lowest in six months. The US dollar index slumped under 101 mark yesterday and currently lingers around 100.50- its fresh five month low amid lack of major economic cues and limited trading around the year end. Sustained risk appetite is also capping the upside in dollar as the Dow hit another fresh record high. The index has already registered five record closes earlier this month.