DOLLAR RALLY INTERRUPTED BY UKRAINE PEACE TALKS; DXY STEADY BELOW 107 MARK

Published on Mar 04, 2025 11:18

The dollar index continues to stay weak under 107 mark on Tuesday morning in Asia as investors reduce safe-haven exposure amid Ukraine peace deal optimism. The DXY, which tracks the performance of the greenback against a basket of six major currencies lost around 1% in the previous session and is currently quoting at 106.56, down 0.10% on the day. Yesterday, euro and pound gained momentum amid growing hopes for a Ukraine peace deal. Meanwhile, US ISM Manufacturing PMI missed forecasts, while the S&P Global Manufacturing PMI came in stronger than expected. ISM Manufacturing PMI came in at 50.3, slightly below the 50.5 forecast and down from January�s 50.9. S&P Global final Manufacturing PMI for February exceeded estimates at 52.7, strengthening from the preliminary reading. Among basket currencies, EURUSD and GBPUSD pairs are seen paring yesterday�s sharp gains and are currently trading marginally lower at $1.048 and $1.269 respectively.