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US Dollar Index: Extends four-day rally, bulls' eye the 105.000 mark
The US Dollar Index (DXY), which measures a basket of six currencies against the US Dollar (USD), extended its rally to four consecutive days, distances from the 200-day Exponential Moving Average (EMA) at 103.743, claimed on May 24, underpinned by high US Treasury bond yields. At the time of writing, the DXY is trading hands at 104.211, gaining 0.31%, with bulls eyeing the 105.000 mark. On Wednesday, I wrote, “The US Dollar Index is neutral to bullish biased, but it could cement its bias as bullish once the DXY achieves a decisive break above the 200-day EMA.” For two consecutive days, the DXY stays above the ... (full story)