The US dollar index (DXY) pulled back on the first trading day of the year amid thin volumes. It plunged to a low of $103.44, which was the lowest level since June 16 of 2022. It has fallen by over 10% from the highest point in 2022 as investors assess the next moves by the Federal Reserve. US bond yields retreat: The DXY index retreat has coincided with the decline of American bond yields. The 10-year government bond yield has pulled back from its 2022 high of 4.33% to 3.87%. In the same period, yields of the 30-year government bonds fell from 4.4% to 3.9%. These yields remain close to their highest level in more ... (full story)