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Dollar Index Softening As Risk Appetite Returns In Global Equities

Published on Aug 22, 2023 12:42

The US dollar index is softening today, coming off its recent highs as demand was sapped at the elevated level amid a modest bounce in risk appetite. The Dollar index has been on a fire in last few days alongwith the US 10 year treasury yields. However, after hitting a two month high of 103.60 on last Friday, the index has trended lower while maintaining a narrow range amid lack of major economic releases. The attention has now shifted on US Federal Reserve Chair Jerome Powell`s address at the central bank`s annual symposium in Jackson Hole and not much of a movement is being seen now. The Dollar index currently lingers at 103.06, down 0.15% on the day. The equity markets are up in Asia today with major indices in China, Hong Kong and Japan rising around 1%. This is capping the upmove in the dollar now.

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