DOLLAR INDEX STRENGTH STAYS INTACT ABOVE 108 MARK; POWELL TESTIMONY, CPI DATA EYED

Published on Feb 11, 2025 11:16

The dollar index is seen maintaining rebound further above 108 mark on Tuesday morning in Asia on growing safe haven demand amid rising concerns of possible repercussions on Trump�s tariff plans. Trump announces a 25% tariff on steel and aluminum imports, raising concerns over inflation and global trade tensions. US 10-year yield rises to 4.50%, recovering from last week`s yearly low and dollar index that measures the greenback against a basket of currencies is quoting at 108.26, up marginally on the day. The small rebound today in greenback is amid cautiousness ahead of Powell�s testimony on Tuesday, expecting insights into future monetary policy and interest rate adjustments and Wednesday�s Consumer Price Index (CPI) data.