Latest Developments in Dollar Index and Major Currencies

Saturday, 6 July 2024, 13:12
The recent market trends show the dollar index struggling below key levels due to rising US unemployment and Fed rate cut speculations. The US Treasury yield dropped, signaling further downward movement. On the other hand, the euro surpassed resistance and maintains an upward trajectory while the Indian rupee remains stable in a narrow range. The post discusses the impact of economic factors on major currencies and offers insights into potential future movements.

Market Overview

The dollar index closed below 105 after pressure from rising US unemployment and speculations of a Fed rate cut.

US Treasury Yield

The yield fell sharply, indicating a negative outlook with chances of further declines.

Euro and Indian Rupee

The euro showed strength surpassing 1.08, poised to hit 1.09, while the Indian rupee maintained stability.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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