Dollar Index Takes A Breather Near One And Half Month High

Published on Aug 23, 2023 12:03

The dollar index is taking a breather at around one and half month high on Wednesday as investors await cautiously ahead of the Fed`s central bank symposium at Jackson Hole, Wyoming, this week. The dollar index, which measures the U.S. currency against six rivals, is down marginally at 103.42, but near its recent peak of 103.71 it touched on Tuesday. The index is up more than 1.5% in August. Data overnight showed existing home sales in the U.S. slumped by much more than expected in the month of July. NAR said existing home sales tumbled by 2.2% to an annual rate of 4.07 million in July after plunging by 3.3% to an annual rate of 4.16 million in June. Among the basket currencies, EURUSD is floating below $1.09 levels at $1.0869 whereas GBPUSD is trading $1.2750, marginally up on the day.