Home Economy Dollar Index closer to trend-deciding support

Dollar Index closer to trend-deciding support


It was a volatile week in the global markets across asset classes. The US dollar rose initially before giving back most of the gains at the end of the week. US equities fell sharply and then recovered well on Friday. The major focus last week was on the US Treasury yields that saw a sharp fall on Thursday on renewed concerns about global growth on the back of the increasing spread of Delta variant of Covid-19 virus across the world. However, the yields also bounced back on Friday, thereby easing the pressure in the market. The week ahead is very crucial as the dollar index is coming closer to a crucial trend-deciding support.

Dollar Index at key level

Dollar Index (92.10) remained volatile between the support at 92 and resistance at 93 last week. 92 will be a very crucial level to watch. A strong break below 92 can trigger a sharp fall to 91 initially. It will also indicate a top in place and keep the dollar index pressured on the downside to revisit…

Click here for full article…www.thehindubusinessline.com