-
US Dollar trims daily gains, holds near monthly highs
The US Dollar (USD) measured by the US Dollar Index (DXY) rose toward 106.90, its highest level since early October, seeing nearly a 0.3% gain and then settled at 106.60 on Thursday. Since Tuesday, the DXY index has gained more than 1%, and the Greenback is outperforming its rivals as strong economic data increases its demand. However, dovish bets on the Federal Reserve (Fed) may limit those gains. The United States economy is holding resilient and has yet to show signs of weakness from the Fed’s aggressive monetary tightening. During this week, the US reported that the S&P PMIs from October came in higher than ... (full story)