US DOLLAR INDEX QUOTES JUST ABOVE 105 MARK AS FOCUS SHIFTS ON GEOPOLITICS

Published on May 07, 2024 12:42

US Dollar index is holding around 105.09, up 0.16% on the day as global geopolitical scenario stayed in focus. Dollar index had tumbled to three week low under 105 last week before pulling up. However, these gains appear to be giving way to some cautiousness now as Hamas stated yesterday that it accepted an Egyptian-Qatari cease-fire proposal. While Israel said the deal did not meet its core demands, it would still continue negotiations. This can curb some worries on geopolitical uncertainty and US dollar could see limited gains in such a scenario. There is nothing much on the US economic calendar today though a number of Fed speakers are due in the week ahead.