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Dollar Index Stumbles Well Under 104 Level As Risk Appetite Improves

Published on Aug 30, 2023 12:44

The US dollar index is falling after recent advance to near three month top as rising risk appetite and falling treasury yields are weighing on the currency now. The dollar index fell by half a percent on Tuesday. The dollar also tracked retreated after weak US economic data as the July JOLTS job openings and August consumer confidence turned in a tepid performance. The rally in the S&P 500 to a 2-week high also capped recent upmove in the US dollar as the index saw accelerated selling once the 104 mark gave up. The index currently quotes at 103.50, almost unchanged on the day.

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